Monday, April 9, 2012

Burgan Bank signs Share Purchase Agreement (SPA) with Eurobank EFG to acquire Eurobank Tekfen

Burgan Bank, one of Kuwait’s leading banks with a regional presence in Jordan, Iraq, Algeria and Tunisia, announced today that it has entered into an agreement with Eurobank EFG to acquire a 99.26% stake in Eurobank Tekfen, Turkey. Under the terms of the SPA, Burgan Bank has agreed to acquire the stake for a consideration value of TRY641mn KD99million representing 0.98x based on September 30th 2011 shareholders’ equity.

During the agreement
MEMAC Ogilvy & Mather
© 2012 Al Bawaba (www.albawaba.com)

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Source: http://www.albawaba.com/business/pr/burgan-bank-signs-share-purchase-agreement-spa-eurobank-efg-acquire-eurobank-tekfen-4203

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