Qatar First Bank Says One of Its Subsidiaries Signed Contract to Sell Its Full Stake in Memorial Co.

July 29, 2018

Qatar First Bank announced that one of its subsidiary companies has signed a conditional sale agreement to sell its full stake of 20% in İSTANBUL MEMORIAL SAĞLIK YATIRIMLARI A.Ş. (“Memorial”) which is incorporated in Turkey to a company wholly owned by the Aydin Family.

It should be noted that the deal amount does not represent more than 10% of the total assets of the Bank. It is expected that the deal will close in the third quarter of 2018. It is worth mentioning that the closing of this deal cannot be guaranteed given that this is subject to obtaining all the required approvals.

Subject to the fulfillment of all conditions and the receipt of all approvals and prior to completion of the transaction, the Bank will notify the Qatar Exchange with all details of the transaction.