Content area
Full Text
Banco Bilbao Vizcaya Argentaria SA agreed to acquire an additional 9.95% stake in Türkiye Garanti Bankasi AS from the Dous Group for about 3.32 billion Turkish lira.
BBVA, which acquired a quarter of Garanti in 2011 and a further 14.89% in 2015, will pay 7.95 lira per share for the additional stake, with the payment to be made in U.S. dollars based on the exchange rates for the last three business days ending on the business day prior to the completion date.
The transaction, which is expected to be completed in the first half, is subject...