H.S.B.C. Bank Inc. Purchases Benkar

ISTANBUL (A.A) - 08.08.2002 - HSBC Bank Inc. purchased on Thursday Benkar Tuketici Finansmani and Kart Hizmetleri Inc. (consumer finance and card services).
A statement of HSBC Bank said that a contract about the 75 million U.S. dollar sale was signed with Boyner Holding Inc. to purchase Benkar including Advantage trademark.
A part of this coast will be paid within five years depending on the fulfillment of earlier decided performance criteria.
Under the agreement, 100 percent of Benkar shares and all operation and assets were transferred to HSBC Bank Inc.