No deal yet on Eurobank Tekfen says Burgan

Kuwait, February 23, 2012

Burgan Bank, which is said to be in talks to buy a 70-percent stake in Turkish group Eurobank Tekfen, said it has not reached any deal for a majority stake purchase.

Sources told Reuters on Wednesday the Kuwait lender had reached a deal for Eurobank Tekfen, a partnership of Greek lender EFG Eurobank and Turkish company Tekfen .

"Burgan Bank denies any ownership of a significant stake in a Turkish bank," the lender said in a statement to the Kuwaiti bourse on Thursday.

The bank also said that it was studying some investment opportunities, in line with its expansion plans, but did not give specific details.  - Reuters

Tags: Kuwait | Turkey | Burgan | Eurobank Tekfen |