Yapı Kredi, one of Turkey’s leading private banks, is in the midst of a potential sale process. Koç Holding is demanding $8.5 billion for a 61.2% stake in the bank, while First Abu Dhabi Bank, a candidate buyer, is keeping its offer at $7.5 billion. According to Reuters reports, the bank currently has a valuation of $9 billion and if the sale goes through, its valuation is expected to rise to between $13 and $14 billion.
With the reflection of the news on the markets, Yapı Kredi shares gained 6.7 percent and Koç Holding shares gained 9 percent. However, First Abu Dhabi Bank seems largely unaffected by these developments. Although no official statement has been made on this issue, we will follow the situation and will continue to inform you as new developments occur.
