Yapi Kredi Says Talks on Sale of Insurance Unit Are Continuing
March 26 2013 - 5:50AM
Dow Jones News
By Yeliz Candemir
ISTANBUL--Turkey's Yapi ve Kredi Bankasi (YKBNK.IS), or Yapi
Kredi, said Tuesday that talks on the sale of its insurance unit
Yapi Kredi Sigorta (YKSGR.IS) are continuing and a deal had yet to
be signed.
Yapi Kredi issued the statement to the Istanbul Stock Exchange
after Reuters on Monday cited sources as saying Allianz SE (ALV.XE)
had agreed to buy Yapi Kredi Sigorta for nearly EUR950 million.
At 0900 GMT, after Yapi Kredi's statement, Yapi Kredi Sigorta's
shares were up 1.2% at TRY21.85. The broader Istanbul market was up
0.35%.
Write to Yeliz Candemir at yeliz.candemir@dowjones.com
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