ADQ, an Abu Dhabi-based investment and holding company, has signed an agreement to acquire 96 per cent of the share capital of Odea Bank, a subsidiary of Bank Audi, a leading Turkey bank. Odeabank is Turkey’s 13th largest private conventional bank by total gross loans and customer deposits.

Abu Dhabi sovereign wealth fund ADQ announced Tuesday a definitive agreement to acquire 96% of the share capital of Odeabank, the subsidiary

ADQ, the smallest of Abu Dhabi’s three sovereign wealth funds, said on Tuesday that it will acquire 96 per cent in Turkish lender Odeabank, owned by Lebanon’s Bank Audi, as entities based in the GCC seek to expand their growth opportunities abroad.

Abu Dhabi sovereign wealth fund ADQ is buying Odeabank, marking the latest example of the oil-rich emirate’s efforts to expand into Turkey.

ADQ an Abu Dhabi-based investment and holding company and Bank Audi sal Bank Audi one of Lebanon leading banks announced today the signing of

Abu Dhabi state-controlled fund ADQ has entered into a definitive agreement with Lebanon’s Bank Audi-led consortium to acquire 96% of the share capital of Odea Bank A.Ş. (Odeabank), Bank Audi’s subsidiary in Türkiye.