Abraaj acquires minority stake in Fibabanka
Esin Attorney Partnership, a member firm of Baker & McKenzie International, a Swiss verein, represented The Abraaj Group (Abraaj) in connection with the acquisition of a minority stake in Fibabanka A.Ş. (Fibabanka). A privately negotiated share subscription agreement was executed with Fiba Group (Fiba) on 3 June 2016, and the stake will be acquired through share subscription after completion of regulatory approvals.
IFC and EBRD are currently shareholders of Fibabanka, and the addition of Abraaj will contribute to the strong alliance of Fiba, IFC and EBRD.
Remarking on the matter, partner Eren Kurşun commented that “When you take Abraaj's successful track record of banking transactions around the world and combine it with Fiba Group's expertise in the Turkish banking sector and Fibabanka's growth performance so far, it is difficult not to feel excited about this partnership."