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National Bank of Greece invests USD 745 million in Turkey despite global crisis

Posted on 14 February 2011

Date: 20/10/2008
National Bank of Greece invests USD 745 million in Turkey despite global crisis

Despite an ongoing financial crisis in international markets, foreign interest in Turkey continues unabated, with several major purchases of Turkish concerns by Greek companies being concluded over the past week.

The National Bank of Greece (NBG), which in 2006 bought a 46% share of Finansbank for $2.8 billion, in the largest commercial deal ever to take place between Turkey and Greece, announced that they had purchased the balance of the bank’s shares from Fiba Holding for $697.1 million.

Another Greek company investing in Turkey, as Today’s Zaman reported, is the Hygeia Medical Center.

Representatives of the center said they purchased 50% of the Safak Hospital Group for $48 million.Hygeia will also purchase 50% of the land belonging to the group in Istanbul and will establish a new hospital there.

03. October 2008 Pioneer-Investors.com

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