Commercial Bank of Qatar (CBQ), the Gulf Arab state’s third-largest lender by assets, said on Wednesday that Qatari regulatory authorities had given approval for the bank to buy a further 25 percent stake in Turkey’s Alternatifbank.
CBQ said in July that it would buy the stake after another shareholder, Turkey’s Anadolu Industry Holding, an affiliate of Yazicilar Holding, exercised a share sale option.
The share transfer is to be made in the second half of December, with Alternatifbank becoming a 100 percent-owned subsidiary of CBQ following the move.
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