UniCredit has struck a deal to reduce its exposure to Turkey's Yapi Kredi ,...
), three sources told Reuters, a move seen as a first step toward the Italian bank’s full exit from the recession-hit country.
UniCredit kicked off talks with Koc Holding earlier this year aiming to dismantle the joint venture and lay the groundwork to fully cash out of Yapi Kredi, the sources said. The deal will give Koc Holding a majority stake in Yapi, Turkey’s third-biggest bank which has a market value of $3.7 billion, they said.
The Milan-based bank has been invested in Yapi Kredi since 2002 when it entered the joint venture with Koc Holding in what became the first foreign partnership in Turkey’s financial services industry.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Exclusive: Chevron CEO plans major cost-cutting overhaul of production teams - sourcesChevron Corp Chief Executive Michael Wirth is preparing sweeping changes at the ...
Lire la suite »
Australian fund cuts Westpac bond exposure on money laundering allegationsAn Australian bond fund has started to divest Westpac bonds following allegation...
Lire la suite »
Exclusive: Exxon aims to sell $25 billion of assets to focus on mega-projects - sourcesExxon Mobil plans to sell up to $25 billion of oil and gas fields in Europe, Asi...
Lire la suite »
Exclusive: Unilever, Henkel and buyout funds eye bids for Coty's $7 billion beauty brands – sourcesConsumer goods giants Unilever and Henkel and a series of buyout funds including...
Lire la suite »
Exclusive: LVMH gets access to Tiffany's books after it raises offer - sourcesFrench luxury group LVMH has persuaded U.S. jewelry chain Tiffany & Co to provid...
Lire la suite »
DaBaby Signs Publishing Administration Deal With UMPGUniversal Music Publishing Group signed DaBaby to an exclusive global administration deal, the company announced Wednesday (Nov. 20).
Lire la suite »