TALANX TO ACQUIRE LIBERTY SIGORTA IN TURKEY

Talanx is to buy the Turkish non-life subsidiary of the US based Liberty Mutual Group for an undisclosed amount. Talanx has agreed to acquire 99.4% of the shares in Liberty Sigorta A.S according to Talanx, the acquisition enables it to strengthen its presence in Turkey, which is one of the group’s core markets.

The deal is subject to obtaining the relevant regulatory authorities in Turkey, which many believe will come with a lot of efforts given the business environment in recent time.

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