Oman fund buys into Azerbaijan's state-owned Azər-Türk Bank

What's the deal? The Azerbaijan-Oman Direct Investment Fund is becoming a shareholder of state-owned Azər-Türk BankDealroom has a profile for this one. Try Dealroom → through the acquisition of new shares. The investment will come via an additional share issue, raising the bank's authorized capital.

Why now? The agreement was signed on September 25-26 during the II Azerbaijan International Investment Forum in Baku.

What's the endgame? Azər-Türk Bank has operated since 1995 and holds authorized capital of 100.5 million manats. The deal brings fresh capital and a foreign institutional backer to a lender still majority-owned by the state.

What changes? SOCARDealroom has a profile for this one. Try Dealroom → holds 51% and the State Service for Property Issues 24%, with Turkey's Zıraat BankDealroom has a profile for this one. Try Dealroom → and its international arm, AzRe Təkrarsığorta, and Qala Həyat Sığorta among other shareholders. The Oman fund's entry adds a new name to that register.

The signal: The deal deepens financial ties between Azerbaijan and Oman, channeling Gulf capital into a state-owned lender and signaling appetite for cross-border investment in the Caucasus banking sector.

Read more: abc.az

Image credit: teuchterlad