The Savings Deposit Insurance Fund (TMSF) in Turkey has put Sumerbank on sale and asked for bids to be submitted by June 22 in an announcement published in yesterday's Official Gazette.
The TMSF was quoted by Turkish Daily News as saying that “two separate offers should be prepared, one including and one excluding Sumerbank's affiliations.
According to the daily, bids will be evaluated by the bank's board by June 25 and by the TMSF in June 28, noting that the results will be announced after consultation with the Banking Regulation and Supervision Agency (BDDK) – Albawaba.com
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