Deals
Qatar’s CBQ Agrees to Buy 70.8% Stake in Turkey’s Alternatifbank
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Commercial Bank of Qatar QSC, the Persian Gulf country’s second-largest bank, said it agreed to acquire a 70.8 percent stake in Turkey’s Alternatifbank AS from Anadolu Group for two times the book value.
Alternatif’s book value was 585.1 million liras ($323 million) at the end of 2012, CBQ said in a statement today. The sale price will be based on the book value of Istanbul-based Alternatif at the end of this June, CBQ said.