The state-controlled Abu Dhabi Developmental Holding Company (ADQ) has recently signed an agreementwith a consortium led by the Lebanese Bank Audi S.A.L. for the acquisition of a 96% stake in the latter’sTurkish subsidiary Odea Bank A.Ş. (Odeabank).  This consortium includes Bank Audi S.A.L., the International Finance Company (IFC) FIG Investment Company  Sàrl and the European Bank for Reconstruction and Development (EBRD). The whole consortium have agreedto sell their respective interests in the share capital of Odeabank to ADQ.  It is worth noting that ADQ launched a US$ 300 million fund together with the Türkiye Wealth Fund  which invests in companies developing emerging technologies. ADQ stands as Abu Dhabi's third biggest  sovereign wealth fund which invests in energy & utilities, food & agriculture and healthcare among others.The sovereign wealth fund has also acquired Turkish pharmaceuticals company Birgi Mefar Group in 2022. (ICE BEIRUT)

Fonte notizia: Bank Audi, Lebanon Weekly Monitor, 14 - 20 Oct. 2024