İş Bank's investment division, İş Invest (İş Yatırım Menkul Değerler), has been approved by the Capital Markets Board to operate a hedge fund. It will have an initial YTL 30 million ($23 million) under management.
The İş Invest's announcement comes one day after Garanti Bank, the Turkish lender co-owned by General Electric Co., said it received approval to open Turkey's first hedge fund. The fund initially will have about YTL 500 million ($388million) under management.
TDN: Banks race to open first hedge fund in Turkey
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It seems Russia's Alfa Group, just after acquiring AFM cinemas, may be about to gain control of Turkey's largest mobile phone network, Turkcell. The deal is hinging on a court case between Turkcell stockholders, Alfa Group and Çukurova Holding.
TDN: Russia's Alfa dreams of Turkcell ownership
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Carlyle Group's Can Deldag made an announcement stating to be on the lookout for deals coming this summer, possibly in June. The news is fairly weak, but you can judge for yourself.
TDN: Carlyle Group plans acquisitions in Turkey
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I reported on the Turkiye Finans deal with NCB last year, and it appears the due diligence has come full circle and finally been completed. The announcement was made last week.
TDN: Saudi Arabia's NCB buys Türkiye Finans
Labels: Alfa Group, Carlyle Group, Garanti Bank, Is Yatirim, Islamic Banking, NCB, Turkcell, Turkiye Finans
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Publisher: Jon H. Black
