Sberbank, Russia’s largest bank, has signed a deal with Dexia, a French-Belgian bank group, to purchase 99.85% of shares of Turkey’s Denizbank (10th largest bank) for $3.5 billion, President of the Russian bank German Gref said, RIA Novosti reports.
He noted that the shares were purchased for 1.33 capitals.
Sberbank purchased Volksbank International (VBI) for €505 in February.
Denizbank was founded in 1938. It is the top 10th bank of Turkey, in terms of asset sizes. It had $25 billion of assets at the start of the year. 99.79% of them belonged to Dexia.
