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Emirates NBD eyes acquiring Sberbank’s Turkish unit

Emirates NBD eyes acquiring Sberbank’s Turkish unit
Sberbank could need several months before deciding whether to sell its unit or not
Emirates NBD
EMIRATESNBD
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Dubai – Mubasher: Emirates NBD is getting ready to submit a bid for Sberbank of Russia’s wholly-owned Turkish unit Denizbank in March, Bloomberg reported, citing sources familiar with the matter.

Dubai’s largest bank group is currently evaluating an offer for Denizbank, the sources said, adding that Sberbank could need several months before deciding whether to sell its unit or not.

On 30 January 2018, Emirates NBD said it started preliminary discussions with Sberbank for the Denizbank stake.

Given that a deal for obtaining Sberbank’s wholly-owned unit could be valued at nearly $4.12 billion, according to Bloomberg calculations.