Dubai – Mubasher: Emirates NBD is still negotiating with Russian Sberbank to acquire a majority stake in its Turkish unit, Denizbank, in consideration of $5.3 billion (AED 19.47 billion).
The Turkey-based commercial bank has completed all the required transactions, Reuters reported citing Denizbank CEO Hakan Ates as saying.
In January 2018, Emirates NBD stated that it had entered preliminary discussions with Sberbank over acquiring its 99.85% stake in Turkey's Denizbank.
In February, Bloomberg News revealed that the Dubai-listed bank was preparing for the submittal of a bid for Sberbank wholly-owned Denizbank.
