Sberbank to buy Denizbank

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Sberbank is in exclusive negotiations to buy the Turkish bank Denizbank from the French-Belgian Dexia.

The deal is expected to be finalised by the end of June and to be valued at US$4bn according to the Financial Times, representing 50% more than the book value of Denizbank.

Rothschild, Troika Dialog, and Deutsche Bank are advising Sberbank, whereas Dexia is advised by BofA Merrill Lynch.

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