Kuwait's Burgan: no deal reached for Eurobank Tekfen stake

February 23, 2012 - 6:57:00 am

KUWAIT: Burgan Bank, which is said to be in talks to buy a 70-percent stake in Turkish group Eurobank Tekfen, said it has not reached any deal for a majority stake purchase.

Sources told Reuters on Wednesday the Kuwait lender had reached a deal for Eurobank Tekfen, a partnership of Greek lender EFG Eurobank and Turkish company Tekfen .

"Burgan Bank denies any ownership of a significant stake in a Turkish bank," the lender said in a statement to the Kuwaiti bourse on Thursday.

The bank also said that it was studying some investment opportunities, in line with its expansion plans, but did not give specific details.     (Reuters)