TAIB strengthens investment banking platform in Turkey

TAIB Yatirim A.Þ. (TY), the brokerage subsidiary of TAIB YatirimBank (TYB) - TAIB's Istanbul-based subsidiary which was established as Turkey's first foreign investment bank in 1987 -- has fully completed the 100% acquisition of PDF Kurumsal Finansman Danýþmanlýk Hizmetleri A.Þ. (PDF) in a cash and share transaction with PDF's founding partners and shareholders.

PDF is an Istanbul-based corporate finance advisory firm renowned for its Turkish
market leadership in M&A advisory, tender ffers, distressed debt management, privatisations and project financing.

The firm was ranked by 'Merger Market' as the top Turkish M&A advisory firm each year from 2002 to 2006, and it is leading the pack in 2008.

PDF has experience across a wide spectrum of industries - most notably as the exclusive sell side advisor in a consortium with an international and a Turkish institution for the largest privatisation in Turkey: Turk Telekom.

Since its founding in 1995, the firm has built a strong franchise, coupled with unparalleled market knowledge and relationships.

Commenting on the acquisition, Iqbal G. Mamdani, Chief Executive Officer of TAIB Bank in Bahrain said, "We are proud to have the PDF team join us to create the strongest Corporate Finance offering in Turkey. It's an important step toward achieving the ambitious targets and high growth plans we have set for Turkey."

He added, "While we have been instrumental in the regional development of investment banking and the positioning of Turkey as an attractive investment destination for GCC-based investors,
this acquisition truly makes TAIB a pivotal player."

To reflect the increased strength of the firm, TAIB Yatirim will be re-named TAIB-PDF Yatirim Menkul Degerler A.Ş, subject to approval of the Capital Markets Board, the local regulatory body in Turkey, and continue to grow aggressively in high-value segments of the financial sector.