Germany's insurance giant to buy Turksih company

Germany's Allianz has agreed to buy Turkish insurer Yapi Kredi Sigorta's elementary arm and a majority stake in its pension arm for nearly 950 million euros ($1.2 billion), sources familiar with the matter said on Monday.

The sources said the deal was expected to be announced in the coming days. Both Allianz and Yapi Kredi Sigorta, the insurance arm of Yapi Kredi Bank, declined to comment.


/HurriyetDailynews/