Posted on 14 February 2011
Dutch bank, ING, Gets Regulator Approval to Buy Turkish bank.
Dutch financial services group ING Group NV said that it has received regulatory approval for its acquisition of Turkey‘s Oyak Bank. ING announced in June for its deal to buy Oyak Bank for $2.67 billion, joining a rush of overseas financial groups buying into the fast-growing Turkish market.
Oyak, a mid-sized Turkish bank owned by Oyak Group, is viewed as one of the last opportunities to get into Turkey‘s fast-growing banking sector after a series of foreign acquisitions.
Reuters (Amsterdam) 17 Dec 2007