Sigorta squeeze-out would bring benefits -Allianz CFO

FRANKFURT, March 27 Wed Mar 27, 2013 6:39am EDT

Related Topics

FRANKFURT, March 27 (Reuters) - A squeeze out of Yapi Kredi Sigorta minority shareholders would make it easier for Allianz to reap the benefits of its takeover of the Turkish insurer, Allianz's chief financial officer said on Wednesday.

"Yes, there are squeeze out rules in Turkey and certainly it makes achieving the synergies easier when you can combine the two companies," CFO Dieter Wemmer told a conference call with analysts.

Earlier on Wednesday, Europe's biggest insurer said it agreed to buy Yapi Kredi Sigorta from Turkish lender Yapi Kredi Bank to secure a bigger slice of a fast expanding Turkish market. (Reporting by Jonathan Gould; Editing by Maria Sheahan)

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

Find your dream retirement town

Florida? Hawaii? Reuters has teamed up with Zillow to give you the power to customize a list of your best places to retire.  Video | Full Article