HSBC to sell Turkish unit to ING
ISTANBUL, July 22, 2015
HSBC is set to agree to sell its Turkish business to Dutch lender ING Group for around $700-$750 million in the next few days, two people familiar with the matter told Reuters on Wednesday.
ING, which already has a presence in Turkey, was one of three banks to submit a non-binding bid in May, sources previously told Reuters. The others were Bahrain's Arab Banking Corp (ABC) and France's BNP Paribas.
HSBC declined to comment. - Reuters