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Quote Agency Bloomberg The US bank informed sources saying that the bank "UniCredit" It is in talks to take direct control of its stake in a bank "Yapi Kredi" Market, paving the way for the sale or reduction of this stake.
Being the Italian bank and its Turkish partner "Kitchen Attire" Discussions on the restructuring of the company "Cook Financial Services" Financial Services owned by them, which holds about 82 percent of the shares "Yapi Kredi".
Bloomberg, citing sources, explained that "UniCredit" He is trying to get out of this project and directly control his stake in a bank. "Yapi Kredi" Which is 41 percent.
The sources added that the bank "UniCredit" And company "Attire" Want to finish the details The deal At the end of this year, allowing the Italian bank to determine the fate of its stake in "Yapi Kredi" Without having to consult with "Cook".
According to Bloomberg, the "UniCredit" can subtract its share in "Yapi Kredi" On sale as part of a secondary public offering.
Hugo Kurtz, economic analyst at the company, commented on this event. "Keivy Pretty & Woods" Financial Adviser "By holding the stake directly, UniCredit will provide strategic flexibility and facilitate the disinvestment process. TurkeySo this move should be welcomed by UniCredit investors".
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UniCredit is in talks to directly control its stake in YapiCredit in Turkey, opening the way for the sale or reduction of the stake, Bloomberg said, quoted by informed sources..
The Italian bank and its Turkish partner Cook Holding discuss the restructuring of their financial services company Cook Financial Services, which holds about 82% of the capital of Yapi Credit.".
UniCredit is looking to exit the project and directly control its 41% stake in YapiCredit, Bloomberg said, citing sources.
UniCredit and Cook Holding are seeking to finalize the agreement by the end of the year, allowing the Italian bank to determine the fate of its stake in YapiCredit without consulting Cook, said the same sources.
According to Bloomberg, UniCredit could put its stake in YapiCredit on sale as part of a secondary public offering..
"This direct participation will give UniCredit strategic flexibility and facilitate the withdrawal of its investments from Turkey," said Hugo Kurtz, an economic analyst at financial consultancy Kivi Beauty and Woods. UniCredit".
