Gide advises Groupama on the sale of its Güneş Sigorta stake to Turkey Wealth Fund subsidiary

Gide has advised Groupama Holding Filiales et Participations (“Groupama”) on the sale and transfer to TVF Finansal Yatırımlar Anonim Şirketi, a subsidiary of Turkey Wealth Fund (“TWF”), of its 10% stake in Turkish insurance company, Güneş Sigorta A.Ş.

Closing occurred on 14 February 2020 after all regulatory approvals were obtained.

This transaction falls within the scope of an on-going global restructuring led by TWF aimed at consolidating pension/life and non-life insurance companies owned by Turkish state banks under a single umbrella.

Gide and its associated firm Özdirekcan Dündar Şenocak assisted Groupama with a team led by partner Arpat Şenocak and associate Mehmet Kösoğlu. TWF was assisted by Esin Avukatlik, with a team led by partner Caner Elmas and associate Sıla Pınar.