(MENAFN - The Peninsula) Commercial Bank have initiated a formal squeeze-out process to acquire additional shares of Turkish bank Alternatifbank AS, Turkey (ABank). Currently, Commercial Bank holds 74.25 percent shares of ABank. Anadolu EndÃ¼stri Holding holds 17.21 percent shares and of ABank and Anadolu Motor Ãœretim ve Pazarlama holds7.79 percent shares of the bank.
"Commercial Bank have initiated a formal squeeze-out process on July 1, 2014 pursuant to which it will acquire a further 0.75 percent shares of ABank from the Bourse Istanbul", the bank said yesterday in a regulatory filing to Qatar bourse. Commercial Bank's shares traded 1.57 percent down to QR68.90 on Qatar Exchange yesterday.