Sberbank and Emirates NBD announce official approval of the deal by banking regulators in UAE, Turkey, Austria and Russia

1 Min | 30 June 2019

Emirates NBD Bank PJSC ("Emirates NBD") and Sberbank of Russia ("Sberbank") refer to the announcement dated 3rd April 2019 relating to the execution of Restated Share Purchase Agreement ("SPA") between both parties, in relation to Emirates NBD's acquisition of the shares representing 99.85% of the share capital of Denizbank A.Ş. ("Denizbank") from Sberbank (the 'Transaction").

30th June 2019, Istanbul, Dubai, Moscow – Emirates NBD Bank PJSC ("Emirates NBD") and Sberbank of Russia ("Sberbank") refer to the announcement dated 3rd April 2019 relating to the execution of Restated Share Purchase Agreement (“SPA”) between both parties, in relation to Emirates NBD's acquisition of the shares representing 99.85% of the share capital of Denizbank A.Ş. (“Denizbank”) from Sberbank (the ‘Transaction”).

We have since received regulatory approval for the Transaction from the Central Bank of United Arab Emirates (CB UAE), the Banking Regulations and Supervision Agency (BRSA), Turkey, the Financial Market Authority (FMA), in Austria and Central Bank of Russia (CBR) to proceed with the transaction. All required approvals from banking regulators have been received. A few remaining regulatory approvals are currently being sought, following which the parties will be in a position to complete the Transaction.

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