January 11, 2013 / 10:16 AM / 5 years ago

Sompo, Dai-ichi, Allianz, Zurich eye insurer Yapi Kredi-sources

ISTANBUL/LONDON, Jan 11 (Reuters) - Japan’s Sompo Japan Insurance, Dai-ichi Life Insurance, Zurich and Allianz SE are among potential buyers for Turkish bank Yapi Kredi’s insurance arm Yapi Kredi Sigorta, sources close to the matter said on Friday.

“The auction moved to the second round about two weeks ago,” a banker close to the process said.

Another source said three of the companies were not interested in the pension unit and there will probably be a third round, adding that Japanese bidders were “very aggressive” on the price.

“Yapi Kredi is in talks to sell the whole of the insurance unit and a majority stake in the pension unit,” a third source said.

Dai-ichi, Sompo Japan, Zurich and Allianz all declined to comment. (Additional reporting by Seda Sezer, Asli Kandemir, Taiga Uranaka, Myles Neligan, Jonathan Gould and Dinesh Nair; Editing by Greg Mahlich)

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