Business | September 14, 2001, Friday // 00:00

The Turkish consortium of the businessman Aidin Dogan and Demirbank`s former owner Halit Cingiliolu are the new owners of Demirbank`s Bulgarian branch. The Turkish agency for bank regulation approved the deal. Still, the new owner has to get a license from the Bulgarian National Bank in order to finalize the deal, Reuters announced. The consortium won the tender for a package of four Demirbank`s structures abroad assets with a bid of USD 95 M. The package includes 100% of Demirbank Bulgaria, 70% of Demir Halk Bank of the Netherlands that operates in Germany, Belgium and Great Britain, 99.69% of Demir Kazakistan Bank and 60% of Demir Kyrgyz Bank. UniCredito won the tender for the sale of the bank`s two subsidiaries in Romania. The Italian bank acquired 62.5% of DemirRomania and 36.33% of Demir Romlease for USD 18.1 million. Demirbank was recently bough by Britain`s HSBC. Demirbank was placed under special supervision because of its financial difficulties in December 2001.

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