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Tuesday, June 19, 2007

Dutch bank ING Groep to acquire Turkey's Oyak Bank for US$2.67 billion in cash

"Dutch bank ING Groep to acquire Turkey's Oyak Bank for US$2.67 billion in cash

ANKARA, Turkey (AP) - Dutch financial institution ING Groep NV will buy Turkey's Oyak Bank for US$2.67 billion (¤2 billion) in cash, the Turkish bank said in a statement Tuesday.
The transaction, which remains subject to approval by Turkish authorities, will be financed from existing resources, ING said."

More:Dutch bank ING Groep to acquire Turkey's Oyak Bank for US$2.67 billion in cash