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    Koc Buys Yapi Kredi Bank

    Hürriyet Haber
    01.02.2005 - 11:20 | Son Güncelleme: 01.02.2005 - 11:20

    The Koc-Unicedito Group has set the preliminary agreement for the purchase of 45% of the shares of Yapi Kredi Bank, one of the biggest banks in Turkey. The Koc Financial group will also buy 13.1 % shares of Turkcell.

    This will be the biggest sale in the history of banking in Turkey. Yapi Kredi Bank, which belongs to the Cukurova Group will be handed over to the Koc and Italian UniCredito partnership at a price of 1.5-2 billion dollars.

    Cukurova owner Karamehmet had until yesterday to pay an amount of 1.4 billion dollars to buy the shares of Superonline. This will enable Yapi Kredi to sell 13.1 % of Turkcell shares.

    Yapi Kredi has 10,600 personnel and a capital of 752.3 trillion YTL.

    SECOND BIGGEST

    Koc and Unicredito will pay 717 million Euro for 39.5 % shares of the Bank. If the groups merge Yapi Kredi and Kocbank, it will become the second biggest bank in Turkey.

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