Linklaters, Taboglu Aid Sberbank's $3.5B DenizBank Buy

Law360, New York (June 8, 2012, 2:10 PM EDT) -- Two subsidiaries of Sberbank of Russia have agreed to pay 6.4 billion Turkish lira ($3.5 billion) for a controlling stake in DenizBank AS, as the expansion-hungry company attempts to stake out a place in the fast-growing Turkish economy, Sberbank announced Friday.

Per a definitive agreement, Dexia NV/SA and Dexia Participation Belgium SA will acquire a 99.85 percent interest in the Turkish bank, including its subsidiaries both at home and in Austria and Russia.

Upon closing of the deal, which is expected to happen later this year,...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.