Report Says Publıc Offer An Optıon For Ge's Garantı Stake
A partial sale, a second public offering or a block sale are the options for General Electric Co
A partial sale, a second public offering or a block sale are the options for General Electric Co.'s (GE) stake in Turkish private lender Garanti Bank AS (GARAN.IS), Turkish daily Milliyet reported Thursday,.
Garanti said last week General Electric is assessing strategic options for its 20.85% stake in the bank.
A 10% or 15% stake could be sold to a bidderthere could be a public offering for the rest of the shares, or there could be a block sale or a public offering for the whole 20.85% stake in the bank, the daily reported citing an unspecified source.
"There are a lot of investors that would buy these stakes in a public offering. The bank's value has risen a lot. There could be a sole buyer or a partial stake sale with a public offering, " the source said according to the daily.
There are eight potential bidders that are interested in the stake sale, including European banksinvestment funds, it also said.
However parent group Dogus GroupTurkey's banking regulator BDDK don't favor investment funds, the daily added.
(SB-SB-ENG)
Garanti said last week General Electric is assessing strategic options for its 20.85% stake in the bank.
A 10% or 15% stake could be sold to a bidderthere could be a public offering for the rest of the shares, or there could be a block sale or a public offering for the whole 20.85% stake in the bank, the daily reported citing an unspecified source.
"There are a lot of investors that would buy these stakes in a public offering. The bank's value has risen a lot. There could be a sole buyer or a partial stake sale with a public offering, " the source said according to the daily.
There are eight potential bidders that are interested in the stake sale, including European banksinvestment funds, it also said.
However parent group Dogus GroupTurkey's banking regulator BDDK don't favor investment funds, the daily added.
(SB-SB-ENG)