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Commercial Bank of Qatar QSC Issues Further Information Concerning Acquisition of Majority Stake In Alternatifbank AS From Anadolu Endustri Holding AS In Turkey


Monday, 18 Mar 2013 08:00pm EDT 

Commercial Bank of Qatar QSC announced that has agreed to acquire a 70.84% shareholding in Alternatifbank AS (ABank) from Anadolu Endustri Holding AS (Anadolu) for two times the book value at 30 June 2013; the book value of ABank at 31 December 2012 was TRL 585 million (USD 328 million). The acquisition remains subject to relevant regulatory approval and is expected to be completed in the second half of 2013. As part of the transaction, the Company will also launch a public tender offer to acquire the 4.16% of ABank‚Äôs shares held in the public domain. 

Company Quote

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26 Nov 2014