Koc Group in Talks to Potentially Sell Yapi Kredi Stake to FAB

Koc Group is reportedly in advanced discussions to sell its 61.2% stake in Istanbul-based Yapi Kredi Bank to First Abu Dhabi Bank (FAB), with the transaction valued at approximately $8 billion, according to sources cited by Reuters.

Koc Group addressed the media speculation, stating that as an investment holding company, it routinely engages in discussions to evaluate portfolio alternatives. The group clarified, "Preliminary discussions are ongoing, but there is no development that necessitates a public disclosure."

Koc Group further emphasised that the transaction details reported in the media are inaccurate and urged parties to rely solely on official company announcements.

Koc Group has held a stake in Yapi Kredi since 2005, initially acquiring a 57% share through a joint venture with Italy's Unicredit. After Unicredit exited the venture in November 2019, Koc Group acquired the remaining shares in 2021.

First Abu Dhabi Bank has not commented on the potential acquisition.