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Deutsche Bank Buys Bender Securities

April 13, 2005

Deutsche Bank, Germany's biggest bank, said that it had acquired full control of Turkish brokerage house Bender Securities, in which it already held a stake of 40 percent. Deutsche Bank raised its stake in the Istanbul-based broker to 100 percent, the German group said in a statement, without revealing the financial terms. "Turkey is a market that is becoming increasingly interesting for the international investor as it opens to the west and to Europe," a Deutsche Bank spokesman said. The deal, which still requires regulatory approval, was expected to be completed in the second quarter.

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