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Generali completes sale of operations in Turkey

Written by Michael Griffiths
20/12/2024

Generali has completed the sale of its 99.99% stake in its Turkish business, Generali Sigorta A.Ş., to Kiler Holding A.Ş.

The transaction will generate an “immaterial impact” on Generali’s Solvency II position, the Italian insurer stated.

Generali said the deal was “fully in line” with its strategic plan to drive sustainable growth and enhance the group’s earnings profile, focusing on the insurance markets in which Generali has a leading presence.

The transaction, which was first announced in September, has now completed following the obtaining of the necessary authorisations from the competent authorities.

PwC acted as sole M&A adviser to Generali and also provided vendor due diligence services to the group. Esin Attorney Partnership acted as legal adviser to Generali.


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