Greece's EFG Eurobank is close to a deal to sell its 70 percent stake in Turkish unit Tekfen to Burgan Bank

Greece's EFG Eurobank (EFGr.AT) is close to a deal to sell its 70 percent stake in Turkish unit Tekfen to Kuwait's Burgan Bank (BURG.KW), it said on Thursday.While Greek banks are selling assets to shore themselves up in the face of a protracted recession and a sovereign...
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E-mail article Print Save Additional News in English Još vesti na Srpskom Επιπλέον ειδήσεις στα Ελληνικά Text

Greece's EFG Eurobank is close to a deal to sell its 70 percent stake in Turkish unit Tekfen to Burgan Bank



Reuters - 06.04.2012

Greece's EFG Eurobank (EFGr.AT) is close to a deal to sell its 70 percent stake in Turkish unit Tekfen to Kuwait's Burgan Bank (BURG.KW), it said on Thursday.

While Greek banks are selling assets to shore themselves up in the face of a protracted recession and a sovereign debt crisis, Gulf investors have been looking at Turkey as a natural target amid unrest in the Middle East and financial upheaval in Europe and North America.

"EFG Eurobank announced that it is in advanced discussions with Burgan Bank from Kuwait to sell its full participation in Eurobank Tekfen," the Greek lender said in a bourse filing.
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