Emirates NBD to acquire Denizbank without need to raise finance

Emirates NBD (ENBD) has renegotiated the price it is paying to buy Turkish lender Denizbank from Sberbank after the fall of the lira since the deal was first announced last year. Some bankers have wondered how the acquisition will be financed, but ENBD has told GlobalCapital the bank will not raise debt to fund the deal.

  • By Mariam Meskin
  • 09 Apr 2019

Following the fall of the lira, ENBD will now pay Tl15.48bn ($2.73bn this week) for the acquisition, as opposed to the TL14.6bn — which was then worth around $3.2bn — when the deal was announced last year.

There is an agreement between the parties on how the settlement exchange rate will be determined, as ...

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5 SG Corporate & Investment Banking 16,903.46 80 4.80%

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