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Yapi Kredi’s $8B sale to First Abu Dhabi Bank falls through

Yapi Kredi's $8B sale to First Abu Dhabi Bank falls through
By Newsroom
Jun 1, 2024 3:12 PM
Negotiations for the sale of Türkiye’s leading bank, Yapi Kredi Bank, to UAE-based First Abu Dhabi Bank for $8 billion have ended without success. Both parties were unable to reach an agreement on the terms of the deal, leading to the termination of discussions.

Koc Holding has released a new statement regarding the sale, a major focus of the financial sector.

In the latest announcement to investors, Koc Holding stated that negotiations had ended without agreement.

Negotiations ended

“Following the reports in the press, we disclosed that we had initial discussions regarding the sale of our shares in Yapi ve Kredi Bankası A.S. As these preliminary talks did not result in an agreement, it has been decided to terminate the negotiations,” noted in a statement to the Public Disclosure Platform (KAP).

Last week, it was reported that First Abu Dhabi Bank was in advanced talks to purchase Koc Group’s 61.2% stake in Yapi Kredi for approximately $8 billion.

Last Updated:  Jun 5, 2024 4:53 PM