Skip to content
Subscriber Only

Turkey Not Goldman to Manage Sale of Bank Asya After Seizure

Updated on

Turkey’s government said it plans to find a buyer for Bank Asya after completing the nationalization of the Islamic lender with the seizure of its shares on Friday.

The bank may now be sold whole or in parts, according to an announcement in the Official Gazette on Saturday, which didn’t give more detail on the potential sale. The state took control of 63 percent of the bank’s privileged shares in February, allowing it to appoint new board members. It seized the remaining stock, except the right to dividends, to complete the takeover last week.