"Turkish Bank Goes to Belgium Fortis for $1.28 Bln
NEW YORK -- Fortis, Belgium's largest financial-services company, agreed to buy Turk Dis Ticaret Bankasi, the 7th biggest private bank of Turkey, for 985 million euros ($1.28 billion), gaining more than a million clients in Turkey as the country negotiates to join the European Union.
89,3 percent share of Disbank will be sold to Fortis Bank. The bid is 20 percent above the current price of the stock. Fortis Bank is expected to make a call to small shareholders.
Jean � Paul Votron, Fortis� CEO, said �We saw the dynamism in Turkish economy and we came� We are not politician. Our strategy focus on an expanding EU, and includes the countries to join the EU.�
JTW
14 April 2005"
JTW News - Turkish Bank Goes to Belgium Fortis for $1.28 Bln
