Turkish holding postpones purchase of share package of Azerbaijani bank
Azerbaijan, Baku, Jan. 6. / Trend N. Ismayilova /
Turkish Maan Guarantee Holding postponed purchasing 40 percent shares of the Azerbaijani Birlik Bank OJSC, bank's chairman Sariya Samedova said today
"We can not reach a consensus, so negotiations have been temporarily suspended. The Azerbaijani side did not agree to accept the conditions of the Turkish holding, which postponed the resolution of this issue indefinitely," Samedova said
Presently the sides are in the process of negotiations, which will be continued if the holding head visits Azerbaijan. If the holding becomes the shareholder, the sides will reconsider bank's strategy respectively
OJSC Birlik Bank was established in 1993.
Today, the bank has twenty individual shareholders. Some 35.08 percent of bank's shares belongs to AzInvest Sigorta (formerly the company was named Nishan Sigorta). In its turn, bank's participation share in the insurance company makes up 15 percent.