Euro Yatırım Menkul Değerler A.Ş. (Euro Group), a Turkish-based financial investment group, has acquired a majority shareholding in the German-based private bank Gries & Heissel Bankiers AG. With this transaction Euro Group successfully pursued its growth strategy in Europe. Financial details have not been disclosed.
Euro Group is a leading financial group with operations in banking, insurance and portfolio management funds / investment funds. The group consists of nine companies, three of which are listed on the Istanbul Stock Exchange.
Former Gries & Heissel Bankiers AG, now Eurocity Bank AG, is a well established regional private bank with a strong focus on private wealth management.
Oaklins' team in Germany initiated the transaction and advised Euro Yatırım Menkul Değerler A.Ş. on the acquisition of Gries & Heissel Bankiers AG in all negotiations and in all matters relating to the owner control procedure with BaFin and the respective authorities.
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