Gide Loyrette Nouel has advised Groupama Holding Filiales et Participations on the sale and transfer of its 10% stake in Turkish insurance company Gunes Sigorta A.S. to TVF Finansal Yatirimlar Anonim Sirketi, a subsidiary of the Turkey Wealth Fund. Baker McKenzie advised TVF on the transaction, which closed on February 14, 2020.
According to Gide, “this transaction falls within the scope of an on-going global restructuring led by TWF aimed at consolidating pension/life and non-life insurance companies owned by Turkish state banks under a single umbrella.”
Gide Loyrette Nouel’s team was led by Partner Arpat Senocak and Associate Mehmet Kosoglu.
Baker McKenzie’s team was led by Partner Caner Elmas and Associate Sila Pinar.