Taib Bank, private bank based in Bahrain, has made an important strategic acquisition in Turkey, one of its key focus markets.

Taib Yatirim, the brokerage subsidiary of Taib's Istanbul-based unit, has completed the acquisition of PDF Kurumsal Finansman Danismanlik Hizmetleri in a cash and share transaction with PDF's founding partners and shareholders.

PDF is an Istanbul-based corporate finance advisory firm renowned for its Turkish market leadership in merger and acquisition activity, advisory services, tender offers, distressed debt management, privatisations and project financing.

'We are proud to have the PDF team join us to create the strongest corporate finance offering in Turkey,' said Taib Bank chief executive officer Iqbal G Mamdani.-TradeArabia News Service