Sberbank buys out Turkish DenizBank family from indebted Dexia
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Published: 08 June, 2012, 13:42
Russia’s top lender Sberbank has sealed the biggest acquisition in its history. It is to pay $3.5 billion for the Denizbank, the 5th largest private bank in Turkey, as well as its subsidiaries in Russia and Austria.
Sberbank has agreed to buy 99.85% of DenizBank from French-Belgian Dexia Group. The deal is set to be completed by the end of 2012. The acquisition also includes the bank's factoring and a leasing operations.
More:Sberbank buys out Turkish DenizBank family from indebted Dexia — RT