Belgian Ageas to Pay 22 million Dollars for Aksigorta Shares

The remaining 38 percent stake in Aksigorta was open to the public. Belgium’s Ageas will pay $220 million for a 31 percent share in one of Turkey’s biggest non-life insurers, Sabancı Holding’s Aksigorta, the holding’s chief executive officer said Wednesday.

The remaining 38 percent stake in Aksigorta was open to the public, CEO Zafer Kurtul said during an Istanbul meeting with journalists on Thursday.

The legal process regarding the partnership has been completed; Sabancı and Ageas will pursue future plans for Aksigorta together, the CEO said.

“We believe that our country has a great growth potential,” Kurtul said. “The budget yielded a surplus in June. They are the factors supporting our growth plans for the future.

There is political and economic stability in Turkey. [The country] has a young population. We are like a bridge between Asia, Europe and Middle Ea1t. All these factors make our country an attractive one for foreigninvestment.”

July 27, 2011
SOURCE: HURRIYET DAILY NEWS