Bloomberg News

Mubadala Considers Buying Turkish Halkbank, Vatan Says

May 27, 2012

(Corrects to Abu Dhabi instead of Dubai in first paragraph of story first published on May 25.)

Mubadala Development Co. PJSC, a sovereign wealth fund of Abu Dhabi, is considering a bid to buy state-owned Turkish lender Turkiye Halk Bankasi AS (HALKB), Vatan newspaper reported.

Mubadala officials have visited Turkey several times in the past six months and may be considering an offer of around $10 billion for the Turkish bank, Vatan reported citing unnamed banking officials.

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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