Gide advises Groupama on the sale of its Güneş Sigorta stake to Turkey Wealth Fund subsidiary
18 February 2020
Deals | Turkey | Mergers & Acquisitions
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.