Citigroup buys 20 pct stake of Turkey's Akbank http://today.reuters.com/news/articlebusiness.aspx?type=ousiv&storyID=2006-10-17T151740Z_01_L17839841_RTRIDST_0_BUSINESSPRO-FINANCIAL-TURKEY-AKBANK-DC.XML&from=business
Tue Oct 17, 2006
ISTANBUL (Reuters) - U.S. giant Citigroup (C.N: Quote, Profile, Research) has agreed to pay some $3.1 billion for a 20 percent stake in Akbank (AKBNK.IS: Quote, Profile, Research), the Turkish bank said in a statement. Citigroup agreed to pay 9.5 lira per share for the strategic partnership with one of Turkey's biggest banks, compared to a market price of 8.15 lira on Tuesday, the statement said.
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