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.
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