February 7, 2020 / 6:29 PM / 18 days ago

Turkey Wealth Fund unit buys Groupama's 10% stake in Gunes Sigorta

ISTANBUL, Feb 7 (Reuters) - Turkey’s sovereign wealth fund said on Friday its TVF Finansal Yatirimlar subsidiary had reached a deal with Groupama Holding to buy its 10% stake in Turkish insurance company Gunes Sigorta.

The Turkey Wealth Fund said in a written statement that the move was within the scope of a consolidation project for public insurance companies which was announced on Dec. 15. No further details were available.

Reporting by Birsen Altayli; Writing by Daren Butler Editing by Chizu Nomiyama

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