BBVA is buying a further just under 50% of Turkey's Garanti Bank from Dogus Holding for €859m ($905m), which brings its total stake in the bank to 9.95%. The deal still needs approval from Dogus's shareholders, although the Spanish bank said in a statement it was expecting confirmation in the first half of the year. Under the deal, Dogus's stake in Garanti would be reduced to 0.05%.
BBVA is buying a further 9.95% of Turkey's Garanti Bank from Dogus Holding for €859m ($905m), which brings its total stake in the bank to just under 50%. The deal still needs approval from Dogus's shareholders, although the Spanish bank said in a statement it was expecting confirmation in the first half of the year. Under the deal, Dogus's stake in Garanti would be reduced to 0.05%.