Freedom Holding Corp. is acquiring a 99.32% stake in Turkish Bank A.Ş. from Özyol Holding and the National Bank of Kuwait. The deal still has to be approved by Turkish regulators.
Deal details and development plans
The core of the deal is Turkish Bank A.Ş., which has operated in Turkey since 1982. Other subsidiaries of TurkishBank Group, the bank’s parent company, located in the U.K. and Cyprus, are not part of the transaction.
The acquisition of the bank will be a logical continuation of the infrastructure the holding has been developing in the region. In addition, Freedom operates another...