Arab Today, arab today cbq buys 708 of turkish bank
Last Updated : GMT 21:01:57
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CBQ buys 70.8% of Turkish bank

Arab Today, arab today

Arab Today, arab today CBQ buys 70.8% of Turkish bank

Doha - KUNA

The Commercial Bank of Qatar (CBQ) has bought a 70.8 percent stake in Turkish lender Alternatifbank from its parent Anadolu Holding. CBQ, in a press statement Tuesday, said Alternatifbank's book value was around USD 328 million at end of December 2012, thus making the deal valued USD 460 million. CBQ said the purchase required approvals from regulators. It expected the purchase to finalize in the second half this year.

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