Abu Dhabi’s ADQ to acquire 96% stake in Bank Audi’s Turkish Unit

Abu Dhabi-based investment firm ADQ has entered into a definitive agreement to acquire a 96 per cent controlling stake in Odeabank, the Turkish unit of Lebanon-based Bank Audi.

Pursuant to the agreement, Bank Audi and other investors, involving International Finance Corporation, IFC FIG Investment Company Sàrl, and the European Bank for Reconstruction and Development (EBRD), agreed to sell their respective interests in the share capital of Odeabank to ADQ.

Odeabank, established in 2012, is a prominent Turkish bank operating 41 branches across 15 cities and offering a range of financial services, including commercial lending, retail banking, and wealth management.

The transaction is subject to regulatory approvals in Türkiye.

Attribution: ADQ