Anadolu Group sells shares in ABank

Anadolu Group sells shares in ABank

ISTANBUL
Turkish Anadolu Group’s chairman, Tuncay Özilhan, sold all of his shares in Turkish Alternatifbank (ABank) July 24, according to a statement to the Public Disclosure Platform (KAP).

He sold all of his 261,926 nominal shares in total for a price between 2.73-2.80 Turkish Liras per share.
The Commercial Bank of Qatar (CBQ), a leading Qatari-based international banking group, announced the completion of its acquisition of a 70.84 percent shareholding in Turkish Alternatifbank (ABank) from the Anadolu Group on July 18.

Turkish Anadolu Group will retain a 25 percent stake in ABank, in addition to board representation, while 4.16 percent of the bank’s shares will be left open to the public.

The Abank posted 68.1 million liras of net profit in 2012, a 141 percent increase on its figure in 2011.
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