Date: 4 weeks ago   Category: Finance

Sberbank has told about influence of falling of a rate of Turkish lira on the price of sale of Denizbank — Rambler News Service


Sberbank expects that the price of the transaction on sale of Turkish "subsidiary" - Denizbank will be from $3,4 billion to $3,7 billion, despite falling of a rate of Turkish lira in recent months, the representative of Sberbank has told journalists. According to materials of bank, Sberbank plans to sell 99,8% of shares of Turkish "subsidiary" of Emirates NBD Bank for more than 14,6 billion Turkish liras that makes today about $2,4 billion. "There are certain borders in which the course between Turkish lira and the American dollar which allow us to count on the total amount of the transaction in the range from $3,4 billion up to $3,7 billion is hedged" — the representative of Sberbank has told. In the report of Sberbank on IFRS for the II quarter 2018 it is noted that "payment under the transaction (selling Denizbank. - RNS) will be made in US dollars, and the contract includes the hedging element providing definition of a course of conversion of TRY/US dollar in narrow range". "Thus influence of changes of course of conversion of TRY/US Dollar on the sum to receiving, insignificant", - it is noted in the report. In May Sberbank reported that it expects closing of the transaction until the end of 2018. Sberbank declared signing of the binding agreement with the Dubai bank Emirates NBD about sale of Denizbank on May 22, to a togd the rate of Turkish lira to dollar made 4,67 Turkish liras. Today the rate of Turkish lira makes 6,07 liras for dollar.

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