Bloomberg News

Akbank Hires Goldman to Advise on Stake Sale by Citigroup

April 09, 2012

Akbank TAS (AKBNK), the Turkish bank in which Citigroup Inc. (C:US) is planning to reduce its stake to less than 10 percent from 20 percent, hired Goldman Sachs International to advise it on the transaction.

Goldman will provide consultation to Akbank “in evaluating various strategic options with regard to the Citigroup stake sale,” Akbank said in a statement to the Istanbul Stock Exchange today.

To contact the reporter on this story: Benjamin Harvey in Istanbul at bharvey11@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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