Posted by meb at June 8th, 2008

Turkey’s Fiba Holding, which sold 46 percent shares in Finansbank for $2.76 billion to the National Bank of Greece (NBG) in 2006, used the money obtained from the sale to invest in several sectors, including energy, retail and shipbuilding, according to the firm’s owner.

“We have used a portion of the money in energy, retail and shipbuilding investments. We have also added capital to the banks abroad. All money is spent now,” Hüsnü Özyeğin, owner of Fiba Group, said during the opening ceremony of a cinema theater in Gaziantep last week. (more…)