Dubai – Mubasher: Emirates NBD on Wednesday announced the completion of the acquisition of 99.85% of Turkey’s Denzibank A.Ş. from Russia’s Sberbank, according to a bourse statement.
Last months, Emirates NBD and Sberbank of Russia announced that they received all the required approvals from banking regulators for implementing the restated share purchase agreement (SPA) signed between both parties.
In May 2018, Emirates NBD had signed an agreement to acquire Sberbank’s 99.85% stake in the Turkish bank Denizbank for AED 11.7 billion.
Emirates NBD, listed on the Dubai Financial Market (DFM), reported a 49% year-on-year surge in its net profit for the first half of 2019, recording AED 7.5 billion.
