UAE Bank’s Talks With Turkish Lender Hit Snag on Valuation

First Abu Dhabi Bank PJSC has held preliminary talks to buy a controlling stake in Turkey’s Yapi Ve Kredi Bankasi AS, though the discussions have been hamstrung by disagreements over price, people familiar with the matter said.

FAB has balked at Yapi Kredi’s valuation, the people said, asking not to be identified discussing confidential information. The Turkish lender’s majority owner — Koc Holding AS — is seeking a higher price than FAB is currently willing to offer, the people said.

Given those disagreements, FAB hasn’t yet formally started due diligence after weeks of talks, the people said. Neither side ...