Reuters logo
Qatar's CBQ says given nod to raise stake in Turkey's Alternatifbank
December 7, 2016 / 5:23 AM / a year ago

Qatar's CBQ says given nod to raise stake in Turkey's Alternatifbank

DUBAI, Dec 7 (Reuters) - Commercial Bank of Qatar (CBQ), the Gulf Arab state’s third-largest lender by assets, said on Wednesday that Qatari regulatory authorities had given approval for the bank to buy a further 25 percent stake in Turkey’s Alternatifbank.

CBQ said in July that it would buy the stake after another shareholder, Turkey’s Anadolu Industry Holding, an affiliate of Yazicilar Holding, exercised a share sale option.

The share transfer is to be made in the second half of December, with Alternatifbank becoming a 100 percent-owned subsidiary of CBQ following the move. (Reporting by Tom Arnold; Editing by Andrew Torchia)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below