The investment bank that won the mandate to sell GE Capital’s 20.85% stake in Turkish bank Garanti will be working hard for its fees (it is rumoured to be JPMorgan).
Garanti is one of the best-managed financial institutions in the emerging markets. Like other Turkish banks it has weathered the global financial crisis fairly well. As Turkey secures its place as one of the most favoured investment destinations in the region, Garanti is set to benefit.
For GE Capital, now is a better time to sell than any other since the collapse of Lehman Brothers. Garanti’s earnings performance this...
