Gide advises Groupama on the divestiture of its private pension portfolio
6 June 2018
Deals | Turkey | M&A / Corporate
Gide has advised Groupama Emeklilik A.Ş. on the transfer of its private pension portfolio to Fiba Emeklilik ve Hayat A.Ş.
Aiming to focus on the life and non-life insurance sectors in Turkey, Groupama decided to divest its private pension portfolio as part of a transaction that is the first of its kind on the Turkish market.
After obtaining a series of regulatory approvals, the transaction was closed on 30 March 2018 through the transfer of all private pension investment funds owned by Groupama.
In a country where voluntary transfers of private pension portfolios are not expressly regulated, this unprecedented transaction is expected to pave the way for further consolidation of the Turkish private pension market.
Gide and its associated firm Özdirekcan Dündar Şenocak advised Groupama Emeklilik with a team led by partner Arpat Şenocak and associate Ece Çakırel Eşkinat.