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ADQ in Talks to Acquire Odeabank's Turkish Unit

Abu Dhabi Sovereign Wealth Fund Targets Financial Expansion

Dubai, UAE—

Abu Dhabi's sovereign wealth fund, ADQ, is in negotiations to acquire Odeabank's Turkish unit, as reported by Bloomberg. The move aligns with ADQ's strategy to expand its financial footprint in Turkey.

Sources familiar with the matter disclosed that ADQ is particularly interested in Bank Audi's Turkish operations. This acquisition would significantly enhance ADQ's presence in the Turkish banking sector and contribute to its broader financial growth aspirations.

ADQ has a track record of successful investments in Turkey, including its acquisition of Abu Dhabi Commercial Bank's Turkish subsidiary in 2022. The fund's interest in Odeabank reflects its continued commitment to the Turkish market and its belief in the country's economic potential.

The acquisition, if completed, would add to ADQ's growing portfolio of international investments and further diversify its financial holdings. The deal is expected to undergo regulatory approval before its finalization.