Sberbank of Russia has completed the sale of 99.85% of Denizbank’s issued capital to Emirates NBD Bank, a leading UAE banking group, for a consideration of approximately USD 2.8 billion. A share purchase agreement had been signed on 21 May 2018, and subsequently amended and restated on 2 April 2019. The parties proceeded with completion on 31 July 2019 after obtaining clearance from the regulatory authorities in Turkey, Russia, the United Arab Emirates and other countries in which Denizbank operates.
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