6/11/2008

Taib unit buys PDF Kurumsal to expand Turkey investment banking

Bloomberg - Taib Bank BSC, the Bahrain-based investment bank controlled by Dubai's ruling sheikh, said its Turkish unit bought Istanbul-based corporate finance advisors PDF Kurumsal Finansman Danismanlik Hizmetleri AS. Taib Yatirim AS, the brokerage unit of Taib Yatirim Bank, bought PDF in cash and shares to expand its investment banking services in Turkey, Taib said in an e-mailed statement today, without disclosing the price. Taib's Turkish broking unit will be renamed Taib-PDF Menkul Degerler AS, the statement said. Taib Bank is a unit of Dubai Financial Group, which is part of Sheikh Mohammed bin Rashid al-Maktoum's Dubai Holding LLC.
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