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,...
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