Foreign companies in race for Turkish insurer
Foreign companies in race for Turkish insurer
AMSTERDAM (MarketWatch) -- At least four foreign companies are interested in buying Turkish insurer Garanti Sigorta AS, Turkish newspaper Referans reports on its Web site, without citing sources. The report said that Dutch ING Groep NV (ING), American International Group Inc. (AIG), Aviva PLC of the U.K. (AV.LN) and French mutual insurance company Groupama SA (GAN.YY) were interested in making a bid. Garanti Sigorta is owned by Turkish private lender Garanti Bankasi AS (GARAN.IS), which said in early October that it had hired Watson Wyatt Ltd. for assessing strategic options for the insurance subsidiary.
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