Baker McKenzie Turkish affiliate Esin Attorney Partnership has advised Groupama Assurances Mutuelles on the sale of Groupama Investment Bosphorus Holding to AXA Mediterranean Holding. Gide Turkish affiliate Ozdirekcan Dundar Senocak advised the buyer.
According to ODSA, Groupama Investment Bosphorus Holding also controls Groupama Sigorta and Groupama Hayat.
Groupama is a Paris-headquartered insurance company. AXA Turkey is an insurance company operating in the Turkish market.
"We are pleased with the completion of the acquisition process of Groupama's insurance operations in Turkey, which is a strong reflection of our strategy to create scale in our technical business lines," AXA Madrid International Hub General Manager Nuria Fernandez commented. "With the new distribution channels in our network, we will increase our market share in our business lines and create a very different approach in our Turkey operation. We believe that we will achieve very successful projects together in the coming period."
The Esin team was led by Partner Caner Elmas and included Senior Associate Sila Pinar and Associate Idil Arda.
The ODSA team included Partner Arpat Senocak, Senior Associate Iklim Gulsun Aytekin, and Associates Nil Duman and Ecem Nur Aksoy.