ENBD acquires DenizBank, Gulf bank M&A boom continues

Emirates + NBD 1
By Mariam Meskin
01 Aug 2019

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 ...

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