Abu Dhabi sovereign wealth fund ADQ is buying Odeabank, marking the latest example of the oil-rich emirate’s efforts to expand into Turkey.

Abu Dhabi sovereign wealth fund ADQ announced Tuesday a definitive agreement to acquire 96% of the share capital of Odeabank, the subsidiary

Abu Dhabi-based investment and holding company ADQ has signed a definitive agreement with Lebanon's Bank Audi to acquire a 96 per cent stake in Odeabank, the lender’s Turkish subsidiary. The financial details of the transaction,

ADQ, the smallest of Abu Dhabi’s three sovereign wealth funds, said on Tuesday that it will acquire 96 per cent in Turkish lender Odeabank, owned by Lebanon’s Bank Audi, as entities based in the GCC seek to expand their growth opportunities abroad.

Abu Dhabi state-controlled fund ADQ has entered into a definitive agreement with Lebanon’s Bank Audi-led consortium to acquire 96% of the share capital of Odea Bank A.Ş. (Odeabank), Bank Audi’s subsidiary in Türkiye.

ADQ an Abu Dhabi-based investment and holding company and Bank Audi sal Bank Audi one of Lebanon leading banks announced today the signing of

Abu Dhabi’s ADQ and Lebanon’s Bank Audi have announced the signing of a definitive agreement for ADQ to acquire 96 per cent of the share capital of Odeabank, Bank Audi’s subsidiary in Türkiye.