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Sigorta squeeze-out would bring benefits -Allianz CFO
March 27, 2013 / 10:40 AM / 4 years ago

Sigorta squeeze-out would bring benefits -Allianz CFO

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)

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