Istanbul: Turkey’s sovereign wealth fund has acquired a 10 per cent stake in the nation’s bourse from the European Bank for Reconstruction and Development, it said in an emailed statement on Tuesday.
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The acquisition brings its stake in Borsa Istanbul to 90.6 per cent, the fund said.
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The deal puts an end to the EBRD’s investment in the Turkish bourse, which started at the end of 2015. In October, the EBRD said it had a right to sell its stake in the company after Mehmet Hakan Atilla — a banker convicted in the US for helping Iran to evade economic sanctions — was appointed Borsa Istanbul’s chief executive officer.
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Zafer Sonmez, the CEO of the wealth fund, told Bloomberg in October that the fund was planning to boost its holding in Borsa Istanbul and then take it public.
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