Paksoy has advised the Ageas insurance company on its acquisition of a 40% stake in Turkey's AvivaSA life insurance company, from British insurance group Aviva, for approximately GBP 122 million. The transaction, which is expected to close this year, remains subject to regulatory approval.
According to Paksoy, “Sabanci will retain its 40% stake in the company, which will allow the two long-time partners in the general insurance business to extend their collaboration to the life and pension business.”
Paksoy’s team included Partners Stephanie Beghe Sonmez, Omer Collak, Nazli Bezirci, and Sansal Erbacioglu and Counsel Okkes Sahan.
Editor's note: After this article was published, CEE Legal Matters learned that Gedik & Eraksoy had advised AvivaSA on the deal. The firm's team included Partner Hakki Gedik, Senior Associate Cinar Sipahioglu, and Associate Berkan Tomay.