Financial and Banking News
Turkish-Saudi Investment Company Established
Formal approval by the authorities in Ankara was last week granted to a $100mn investment company - Turk-Saudi Yatirim A.S. - which is controlled 60% by Saudi investors and 40% by Turkish investors. The company is structured as a holding company based in Istanbul which will invest in Turkish projects, and whose authorized capital is $500mn, of which 20% is paid-in. Negotiations on the...