March 27, 2013 / 2:01 PM / 5 years ago

Allianz sees no big regulatory hurdles in YKS takeover

FRANKFURT, March 27 (Reuters) - Allianz does not foresee significant regulatory hurdles to its announced takeover of Turkish insurer Yapi Kredi Sigorta, Allianz’s board member responsible for the region said on Wednesday.

“We do not expect any major obstacles in the process going forward because we are very diversified across products,” Oliver Baete told a conference call with journalists.

Allianz, which announced earlier it was buying Yapi Kredi Sigorta from from local lender Yapi Kredi Bank, expects the deal to close in the second half of the year.

Reporting by Jonathan Gould

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