Mergers and acquisitions Updated: 28 May 2018
BBVA increases its stake in Garanti by 9.95%
BBVA just announced the closing of the acquisition of an additional 9.95% stake in Turkey’s Garanti Bank’s capital after informing the CNMV in a relevant event.
On February 21st, BBVA reported that it had reached an agreement to purchase an additional 9.95% from the Dogus Group for 7.95 lira per share, or approximately 3.32 billion lira (€895 million). BBVA now owns a 49.85% stake in Garanti.