Tekfen Gains in Istanbul on Eurobank Tekfen Stake Sale Plan

Tekfen Holding AS (TKFEN), a Turkish builder, rose after saying it will sell its stake in Eurobank Tekfen AS to a Kuwaiti lender.

The shares gained for a second day, up 1.6 percent to 6.24 liras at the close in Istanbul, the most since April 10.

Tekfen will sell its 29 percent stake to Burgan Bank SAK (BURG) of Kuwait as part of an agreement it signed with Eurobank in 2007, it said in a statement to the Istanbul Stock Exchange today.

Eurobank Tekfen is the Turkish unit of EFG Eurobank Ergasias SA. (EUROB)

To contact the reporter on this story: Aydan Eksin in Istanbul at aeksin@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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