Tekfen Holding sells its share in Eurobank
ISTANBUL - Hürriyet Daily NewsTurkey’s Tekfen Holding has announced that it is selling its 30 percent share in Eurobank Tekfen to Kuwaiti banking group Burgan Bank, according to a statement released by Tekfen Holding to the Istanbul Stock Exchange on April 20.
The company said that the decision was part of the agreement it had signed with Eurobank Holding for a share transfer deal.
Earlier in the month, Burgan Bank had agreed to purchase 70 percent of Greek EFG Eurobank’s Turkish subsidiary Eurobank Tekfen for $335 million.
Tekfen Holding had also announced that it had earlier signed an agreement with Eurobank EFG, allowing it to either sell or transfer its 30 percent stake in Eurobank Tekfen to an interested third party.