{"id":9795,"date":"2012-04-10T16:03:56","date_gmt":"2012-04-10T14:03:56","guid":{"rendered":"http:\/\/www.myza.co.za\/04\/update-2-standard-bank-cuts-turkish-venture-stake\/"},"modified":"2012-04-10T16:03:56","modified_gmt":"2012-04-10T14:03:56","slug":"update-2-standard-bank-cuts-turkish-venture-stake","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-2-standard-bank-cuts-turkish-venture-stake\/","title":{"rendered":"UPDATE 2-Standard Bank cuts Turkish venture stake"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Deal value not disclosed<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Reduces stake to 25 pct<\/p>\n<p><span><\/span><\/p>\n<p>* Is focusing on growing Africa operations<\/p>\n<p><span><\/span><\/p>\n<p>* Acquisition in Nigeria may be on cards-analyst<\/p>\n<p><span><\/span><\/p>\n<p>* Shares up 1.8 pct vs 0.03 pct index drop<\/p>\n<p> (Adds details)<\/p>\n<p><span><\/span><\/p>\n<p>ISTANBUL\/JOHANNESBURG, April 10 (Reuters) &#8211; South Africa&#8217;s<br \/>\nStandard Bank  is selling most of its stake<br \/>\nin Standard Unlu to its partner in the Turkish investment<br \/>\nbanking venture in another move to scale back non-African<br \/>\noperations.<\/p>\n<p><span><\/span><\/p>\n<p>Standard Bank will cut its holding to 25 percent from 67<br \/>\npercent, lifting the stake held by Mahmut Unlu to 75 percent,<br \/>\naccording to a press release.<\/p>\n<p><span><\/span><\/p>\n<p>Standard Bank will sell a 53 percent stake to Unlu and buy<br \/>\nout 11 percent held by minority shareholders. The value of the<br \/>\ndeal was not disclosed<\/p>\n<p><span><\/span><\/p>\n<p>Standard Unlu posted sales of 72.4 million liras ($40.26<br \/>\nmillion) in 2011 and a net profit of 21.7 million liras.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Deal value not disclosed * Reduces stake to 25 pct * Is focusing on growing Africa operations * Acquisition in Nigeria may be on cards-analyst * Shares up 1.8 pct vs 0.03 pct index drop (Adds details) ISTANBUL\/JOHANNESBURG, April 10 (Reuters) &#8211; South Africa&#8217;s Standard Bank is selling most of its stake in Standard [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-9795","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9795","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=9795"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/9795\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=9795"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=9795"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=9795"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}