ECONOMY

Turk billionaire eyeing Greek marine assets

Turkish billionaire Ferit Sahenk will invest between 200 million and 300 million euros in Greek marine assets after selling a stake in his bank to Spain?s Banco Bilbao Vizcaya Argentaria SA last year.

Sahenk, 47, chairman of Istanbul-based Dogus Holding AS, said his company is also seeking to expand in banking in Eastern Europe and may acquire assets there.

He spoke in an interview at the World Economic Forum in Davos, Switzerland on Wednesday.

BBVA paid Dogus $2.06 billion for a 6.3 percent of Turkiye Garanti Bankasi AS, Turkey?s biggest listed bank, in March last year.

General Electric Co also sold BBVA an 18.6 percent stake.

The global economic crisis now means some foreign banks may start pulling out of Turkey to help boost their capital, Sahenk said.

[Bloomberg]