Bank Asya sells stakes in 2 subsidiaries


Date posted: July 6, 2014

ISTANBUL

Leading Turkish Islamic lender Bank Asya has decided to sell its stakes in two subsidiaries for TL 132 million ($62 million), the bank said on Wednesday.In a statement to Borsa İstanbul (BIST), Bank Asya said it is selling a 24.18 percent stake in Turkish construction firm Tuna Gayrimenkul for TL 62.8 million. The bank also said it is selling another construction company, Nil Yönetim Hizmetleri, for TL 69.25 million. The bank owned all shares in Nil. At the beginning of June, the bank said it planned on selling its subsidiaries. The move comes amid efforts of Bank Asya to raise capital.

In related international deals Qatar Islamic Bank (QIB) said in March that it had entered into exclusive talks to buy a stake in Asya without giving further details except to say that it hoped to conclude the deal within the next few months. On Wednesday Reuters cited four sources close to the matter as saying that QIB and Bank Asya have ended exclusive talks over QIB acquiring a stake in the Turkish lender, with valuation concerns said to be behind the decision.

Turkish state bank Ziraat may now be the most likely partner for Bank Asya, but the two banks have not officially begun talks, three of the sources told Reuters.

“Talks with QIB have finished. Bank Asya has been going through tough times since Dec. 17. They are in talks with Ziraat,” one source close to the deal said. It was not clear what size stake had been under discussion. The Qatari lender didn’t respond to a request for comment. Bank Asya and Ziraat also declined to comment.

The talks with QIB faltered after the banks failed to agree on a price, the sources said. Turkish banks are a natural target as Qatari banks expand overseas, but price has become a highly sensitive issue after the state’s second-biggest bank by assets, the Commercial Bank of Qatar, was seen overpaying last year to acquire a 70.8 percent stake in Turkey’s Alternatifbank.

Source: Todays Zaman , June 2, 2014


Related News

Prominent Alevi leader welcomes Gülen’s remarks on bridge controversy

HÜSEYİN AYDIN, İSTANBUL Fermani Altun, head of the World Ehl-i Beyt Foundation, a leading Alevi association, has welcomed Islamic scholar Fethullah Gülen’s recent remarks in which he stressed Alevi-Sunni brotherhood amidst an ongoing debate over the naming of a new bridge after an Ottoman sultan considered controversial by Alevis. In a speech broadcast on herkul.org on Wednesday, […]

Lynching campaign: Democratic stance of Zaman and Today’s Zaman

We have been observing a systematic campaign of lynching in social media against Zaman and Today’s Zaman. Zaman has been on the side of democracy since it was launched. To this end, it has supported the democratic reforms that Turgut Özal initiated as well as the EU membership bid and the AK Party’s democratic reforms. Zaman has never wavered in its democratic stance despite all direct and indirect pressures.

Turkish charities ready to deliver aid during Eid al-Adha

Various Turkish charity organizations have wrapped up their preparations to deliver aid, including sacrificial meat and other forms of assistance, to people in need across Turkey and around the world during Eid al-Adha, an Islamic holiday celebrated by millions around the globe. Turkish charities are especially busy during the Eid al-Adha season, collecting money and sacrificing animals, packaging the meat and distributing it to the less fortunate.

Turkish Education Ministry engaged in profiling of staff, daily claims

The Taraf daily published a number of new documents on Monday that showed the Ministry of Education has profiled its staff based on their ideological and religious backgrounds. The documents, which date back to September 2013, suggest that ministry personnel who voiced criticism of the Justice and Development Party (AK Party) government and who are members of religious or faith-based groups were “noted” in official communiqués.

Zaman newspaper: Turkey police raid press offices in Istanbul

Turkish police have raided the offices of Zaman, the country’s biggest newspaper, hours after a court ruling placed it under state control. Police entered the building in Istanbul late on Friday, firing tear gas at protesters who had gathered outside. Zaman is closely linked to the Hizmet movement of influential US-based cleric Fethullah Gulen. Turkey […]

GYV to deliver awards to peace projects

The Journalists and Writers Foundation (GYV), which will make a donation of $50,000 to international peace projects developed to prevent conflicts in the world and to present solutions, will hold a ceremony in İstanbul on Friday where 10 peace projects will be given awards.

Latest News

Fethullah Gulen – man of education, peace and dialogue – passes away

Fethullah Gülen’s Condolence Message for South African Human Rights Defender Archbishop Desmond Tutu

Hizmet Movement Declares Core Values with Unified Voice

Ankara systematically tortures supporters of Gülen movement, Kurds, Turkey Tribunal rapporteurs say

Erdogan possessed by Pharaoh, Herod, Hitler spirits?

Devious Use of International Organizations to Persecute Dissidents Abroad: The Erdogan Case

A “Controlled Coup”: Erdogan’s Contribution to the Autocrats’ Playbook

Why is Turkey’s Erdogan persecuting the Gulen movement?

Purge-victim man sent back to prison over Gulen links despite stage 4 cancer diagnosis

In Case You Missed It

Former Turkish officer at NATO: Coup attempt was never meant to succeed

Turkey’s New Anti-Americanism (NY Times Editorial)

Prof. Leo Lefebure on Fethullah Gulen and Gulen Movement

Çağlayan: TUSKON Trade Bridge soon to be global brand

US conference discusses Gülen movement contributions to peace

CHP leader says Erdoğan’s UN speech only served to promote Gülen movement

Turkey’s anti-Gulen crackdown continues with Yemeni students after Nigerians

Copyright 2024 Hizmet News