November 29, 2019 / 5:26 AM / 14 days ago

Turkish financial sector firms buy majority stake in JCR Eurasia

ISTANBUL, Nov 29 (Reuters) - Turkey’s banks and financial institutions signed an agreement to buy 85.05% of credit rating agency JCR Eurasia, Turkey’s banking association said on Friday.

Borsa Istanbul will hold 18.5% of the company, the banking association said, while Japan Credit Rating Agency will hold 14.95%. Turkish private and state lenders, including Ziraat Bank, GarantiBBVA, Yapi Kredi will also hold stakes in the company.

The stake acquisition is aimed at the efficient use of resources through credit ratings and to support healthy growth in the economy, the association said. (Reporting by Behiye Selin Taner; Writing by Ezgi Erkoyun; Editing by Muralikumar Anantharaman)

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