Dubai's biggest bank, Emirates NBD, has completed its acquisition of Turkey's DenizBank from Sberbank as the binge of bank mergers in the Gulf continues.
The transaction saw ENBD acquire 99.85% of Denizbank's shares.
ENBD announced in April that the cost of the acquisition was TL15.48bn ($2.77bn). Sberbank confirmed to GlobalCapital
in April that it was expecting to receive around $5bn from the acquisition, with the remainder of the funds being received in the form