HSBC to agree sale of Turkish unit to ING for around US$750m: sources

HSBC is set to agree to sell its Turkish business to Dutch lender ING Group for around US$700-US$750 million in the next few days, two people familiar with the matter told Reuters on Wednesday. 

PHOTO: REUTERS

JUL 22, 20158:19 PM

[ISTANBUL] HSBC is set to agree to sell its Turkish business to Dutch lender ING Group for around US$700-US$750 million in the next few days, two people familiar with the matter told Reuters on Wednesday.

ING, which already has a presence in Turkey, was one of three banks to submit a non-binding bid in May, sources previously told Reuters. The others were Bahrain's Arab Banking Corp (ABC) and France's BNP Paribas.

HSBC declined to comment.

REUTERS