H.E. Ahmed Al Tayer hosts reception in honor of Turkish Ambassador

Event held in cooperation with Ata Invest Dubai

H.E. Ahmed Humaid Al Tayer, Chairman of Emirates NBD, held a reception in honor of the newly appointed Turkish Ambassador to the UAE, H.E. Hakki Akil. The event was held in cooperation with Ata Invest Dubai and was attended by a number of senior Turkish officials and senior management representatives from Emirates NBD and Ata Invest Dubai.

H.E. Ahmed Humaid Al Tayer, presenting to H.E. Hakki Akil, Turkish Ambassador to the UAE, a memento, an Oyster containing 2 pearls symbolizing the merger of the two banks.

H.E. Ahmed Humaid Al Tayer welcomed H.E. Hakki Akil to the UAE and praised the existing economic and trade relationships between the UAE and Turkey and said:" The UAE and Turkey share a common goal of ensuring economic growth and prosperity through increased profitable investments and trade activities in both countries. The strategic geographic location and investment opportunities that are available in Turkey make it a very attractive market for us to venture into. Emirates NBD has adopted an ambitious expansion strategy which includes among other promising markets, Turkey."

Emirates NBD is looking to expand its operations in the MENA region as a priority. However, Turkey is seen as the future industrial powerhouse of Europe and is a market of strategic value for the group.

"Emirates NBD is looking for acquisition or mergers where there is a strategic fit. We are looking for suitable assets to acquire at reasonable multiples. The group is seeking opportunities that would be up to or equal to our size and that we are confident we can manage and add value to", added Al Tayer.

Mr. Korhan Kurdoglu, Chairman of Ata Group and Mr. Hakan Fehatoglu, Chairman of Ata Invest Dubai said:" We as Turks share a common heritage and set of values with the GCC region. The UAE particularly is of great importance and value not only to our group but to our country as a whole as we observe synergies for growth and co-investment opportunities in both countries."

Ata Holding is a leading Turkish conglomerate involved in financial services, building materials logistics and land development businesses.

Click here for Arabic version.

Reported by: Corporate Communications
Reported on: 25.06.2008

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