General Electric and Garanti Bank

GE has announced that it will buy a 25.5% stake in the Turkish bank "Garanti Bankasi" in an effort to find profit in emerging markets outside of the United States. General Electric has agreed to pay $1.56 billion for their share in the Turkish bank. Turkey is going through a boom in borrowing now that its inflation has come control, currently at around 7.8%.
GE to Pay $1.56 Billion for Stake in Turkey's Garanti
"General Electric's consumer finance unit will buy 25.5 percent of the company from Dogus Holding AS in a deal valuing Garanti at $6.1 billion, according to a statement from Dogus today. The bank was worth $5.6 billion at yesterday's close. Shares of Istanbul- based Garanti advanced 3.8 percent." bloomberg