Jan 29 2018

Sberbank in talks to sell Turkish unit to Gulf buyers - report

Sberbank of Russia held discussions with Gulf-based buyers to sell its Turkish unit Denizbank, Bloomberg reported on Monday citing unidentified people.

The bank has talked with possible investors including Dubai’s Emirates NBD PJSC and other lenders in the region. Discussions are at an early stage and may not end in a deal, the people said.

Sberbank, subject to U.S. and European Union sanctions for more than three years. bought Denizbank, Turkey’s ninth-biggest lender, for $3.5 billion in 2012.