Deals
Burgan Bank Concludes Purchase of Eurobank Tekfen
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Burgan Bank SAK, the third-biggest Kuwaiti lender by assets, completed the purchase of 99.3 percent of Istanbul-based Eurobank Tekfen AS amid growing interest from Persian Gulf banks to expand operations in Turkey.
The 627 million-lira ($349 million) deal was completed on Dec. 21 after the Kuwait-based lender secured approval from Turkish and local regulatory bodies, Burgan Bank said in a statement to the Kuwait Stock Exchange today.