Eczacibasi Holding AS, a Turkish group with interests in finance, drug-making and building materials, is in talks to acquire Taib Bank EC’s Turkish unit, Sabah reported, without saying where it got the information.
Eczacibasi’s efforts to get a license to set up an investment bank from the Turkish banking watchdog haven’t triggered a positive response in more than a year and this prompted the Istanbul-based group to consider buying a bank instead, the newspaper said.
Dubai’s ruler Sheikh Mohammed bin Rashid Al Maktoum’s Dubai Financial Holding owns 60 percent of the Bahrain-based Taib Bank, Sabah said.
To contact the reporter on this story: Ercan Ersoy in Istanbul firstname.lastname@example.org.
To contact the editor responsible for this story: Benedikt Kammel at email@example.com.