Turkey's Papara agrees to buy T-bank from Bankmed, Arab Bank

Dow Jones Industrial Average -0.13%
Argo Blockchain Plc 0.00%
S&P 500 index +0.11%
M&T Bank Corporation +0.56%
NASDAQ +0.18%

Dow Jones Industrial Average

DJI

46504.67

-0.13%

Argo Blockchain Plc

ARBK

2.78

0.00%

S&P 500 index

SPX

6582.69

+0.11%

M&T Bank Corporation

MTB

210.16

+0.56%

NASDAQ

IXIC

21879.18

+0.18%

ISTANBUL, March 5 (Reuters) - Turkish fintech company Papara has signed an agreement to purchase T-bank (Turkland Bank), from its 50-50 shareholders Lebanese Bankmed SAL and Jordanian Arab Bank PLC, Papara said on Tuesday.

In its statement, the company did not disclose the price of the purchase and said the acquisition would be completed following banking watchdog and competition authority approvals.


(Reporting by Ceyda Caglayan;
Writing by Ezgi Erkoyun;
Editing by Daren Butler)

((ezgi.erkoyun@thomsonreuters.com; +90-212-350 7051; Reuters Messaging: ezgi.erkoyun.thomsonreuters.com@reuters.net;))

This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.