Reuters reported first Abu Dhabi Bank (FAB) is in advanced talks to acquire Turkish conglomerate Koc Group’s 61.2% stake in Istanbul-based lender Yapi Kredi for about $8 billion. Shares in Yapi Kredi soared 10% after the news emerged, while Koc Holding jumped more than 9%, both touching record highs. FAB shares slipped slightly.
Business & FinanceDeals
Emirati bank FAB in advanced talks to buy Turkey’s Yapi Kredi
21 May 2024, 6:17 pm 1 minute
Market Impact
Shares in Yapi Kredi soared 10% after the news emerged, while Koc Holding jumped more than 9%, both touching record highs. FAB shares slipped slightly.
Article Tags
Topics of Interest: Business & FinanceDeals
Type: Reuters Best
Sectors: Business & Finance
Regions: Middle East
Countries: TurkeyUAE
Win Types: Impact (Long Term)
Story Types: Special Report / Insight
Media Types: Text
Customer Impact: Important Regional Story
