Fortis NV has nearly a billion euros (US$1.3 billion) to acquire Turkey’s Disbank, a purchase which would make the Belgian-Dutch combination the largest foreign retail bank in Turkey.
Fortis Chief Executive Jean-Paul Votron said 89.3 percent of Disbank shares would be purchased from private holders, while the remaining 10.7 percent would be acquired from the markets.
Fortis expects the total price to be about Euros 985 million (US$1.28 billion). Disbank has about 2.5 percent of the Turkish retail banking market, the Belgian-Dutch bank said.