EBRD and Borsa İstanbul in exclusive talks over stake sale

EBRD is entering exclusive negotiations to acquire a 10 % stake in Borsa İstanbul, in a landmark deal which will support Turkey’s efforts to reshape its capital markets.
Borsa İstanbul, majority-owned by the Turkish government, is the sole exchange entity in Turkey, created in 2013 by combining the Istanbul Stock Exchange, the Istanbul Gold Exchange and the Turkish Derivatives Exchange.
EBRD First Vice President, Phil Bennett and EBRD Director for Insurance and Financial Services, Noel Edison signed a term sheet in Istanbul today with Borsa İstanbul Chairman Talat Ulussever and Borsa İstanbul CEO Tuncay Dinç, paving the way for a pre-IPO investment in Borsa İstanbul.
Expected to take place next year, the IPO is part of the government’s comprehensive plan to reshape Turkey’s capital markets and turn the country into a financial hub for the region spanning Central Asia, south-eastern Europe and North Africa.