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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