Aviva Plc announces that they sold out their elemental insurance company Aviva Sigorta in Turkey. Aviva Plc noted that the sale is a part of Aviva’s focusing strategy to income-generating scope.
Indicated that Aviva Sigorta is sold to London based company EMF Capital Partners Co. Furthermore EMF Capital Partner Co. has office in Istanbul and Moscow as well. According to the agreement EMF Capital Partners Co. will be principal shareholder and FMO ve KFW DGO, each of them will have equally minor share. Moreover, it’s expected that sales process would finish in first half of 2014.
CEO of EMF Capital Partners Co. Peter Lovas expressing that his thoughts about the agreement, said: “Announcement of purchasing is quite exciting for us. This agreement is one of the main steps of EMF’S Turkey strategy. We are growing impatience to establish a strong elemental company with Aviva Sigorta management and employees in Turkey.”
Furthermore it has pointed that Aviva’s life and retirement company in Turkey AvivaSa will not be affected by the agreement.
