March 25, 2013 / 4:41 PM / 4 years ago

Allianz to buy Yapi Kredi Sigorta for nearly 950 mln euros -sources

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ISTANBUL/LONDON, March 25 (Reuters) - Germany's Allianz has agreed to buy Turkish insurer Yapi Kredi Sigorta's elementary arm and a majority stake in its pension arm for nearly 950 million euros ($1.2 billion), sources familiar with the matter said on Monday.

The sources said the deal was expected to be announced in the coming days. Both Allianz and Yapi Kredi Sigorta, the insurance arm of Yapi Kredi Bank, declined to comment. ($1 = 0.7694 euros) (Reporting by Asli Kandemir and Sophie Sassard, additional reporting by Seda Sezer in Istanbul and Jonathan Gould in Frankfurt; Editing by Nick Tattersall)

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