Turkey’s privatization board has approved the block sale of public shares in Turkiye Halk Bankasi (Halkbank), opening the way for its sale as early as next year. The sale must be finalized by May 2008.
A number of foreign players are expected to be interested in buying the bank, Turkey’s sixth largest by assets. Investors from the Gulf, as well as from Europe and America, are said to be interested, including the Dubai Investment Group and Citigroup.
In April, a consortium of banks comprising Goldman Sachs, CA-IB and Yatirim was chosen to advise on the Halkbank privatization.
Halkbank is Turkey’s leading finance provider to small and medium-size enterprises, and has more than 550...
