MADRID, Feb 21 (Reuters) - Spain’s second-biggest lender BBVA said on Tuesday it had agreed to buy an extra 9.95 percent of Turkey’s Garanti Bank from Dogus Holding for 859 million euros ($905 million), bringing its stake to just under 50 percent. BBVA said in a statement to Spain’s stock market regulator that the deal, which needs approval from Dogus’s shareholders, was expected to take effect in the first half of 2017. Dogus’s stake in Garanti would be cut to just 0.05 percent. The Spanish bank added that the acquisition would hit its core capital ratio under the strictest ‘fully-loaded’ criteria by around 19 basis points. ($1 = 0.9489 euros) (Reporting by Sarah White; Editing by Angus Berwick)
BBVA is buying a further 9.95 % of Turkey 's share Bank from Dogus Holding for € 859 m ( $ 650 million ) , 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 stated in a statement it was expecting confirmation in the first quarter of the year . Under the deal , Dogus 's stake in Garanti would be reduced to 50 % .