UniCredito Italiano has lost out in the struggle to acquire Turkey's Demirbank despite hiring a panoply of advisers including Goldman Sachs.

HSBC Holdings succeeded in acquiring the nationalised retail bank, reportedly for more than $100m (€114m), and the deal is expected to complete by the end of September.

UniCredito loses out to HSBC on Turkish buy

Neil Sen

UniCredito

HSBC

Goldman Sachs

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