Register
Login:
Share:
Email Facebook Twitter

Finance & Stock Market News


UPDATE 1-Qatar finmin sees QNB-Denizbank deal 'if price right'

Sun, 29th Jan 2012 17:52


DOHA, Jan 29 (Reuters) - Qatar's finance minister, who is also the chairma
n of Qatar National Bank, said on Sunday QNB could buy Turkey's Denizbank by year's end if the 'price is right'.

Asked if he hoped the purchase may be completed by the end of the year, Youssef Kamal said: 'If the price is right.'

Kamal said QNB, the Gulf Arab state's largest lender, did not immediately plan any other acquisition.

On Tuesday, Denizbank, Franco-Belgian bank Dexia's Turkish unit, said the process to sell it could be pulled if offers were not high enough.

On Jan. 9, HSBC pulled out of the bidding to buy Denizbank, a person familiar with the matter said.

HSBC and Qatar National Bank had been frontrunners to buy the business and were conducting checks on it, sources had told Reuters.

The business was expected to fetch up to $6 billion and would be QNB's largest acquisition to date.

Qatar, the world's top exporter of liquefied natural gas, has repeatedly made acquisitions overseas.

Sovereign wealth fund Qatar Investment Authority (QIA) is in the final stages of acquiring Credit Suisse's headquarters in London and may sign the deal in a few weeks, two sources familiar with the matter said, in a deal which could be worth 330 million pounds ($517 million).



















(Reporting by Regan Doherty,; Writing by Firouz Sedarat; Editing by Bernard Orr) Keywords: QNBK DENIZBANK/

(dubai.newsroom@thomsonreuters.com)

COPYRIGHT
Copyright Thomson Reuters 2012. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.


Related Shares: Hsbc Hldgs (HSBA).


Next Article: Qatar sov fund to buy Credit Suisse London HQ-sources

Back to Finance News


Sign up for Live Prices
Home  |  Contact Us  |  About Us  |  Careers  |  Advertise with Us  |  Sitemap  |  Terms & Conditions  |  Cookies  |  Privacy


Datafeed and UK data supplied by NBTrader and Digital Look. While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.