The Abraaj Group announces sale of Turkish health insurance company Acıbadem Sigorta - Business Intelligence Middle East - bi-me.com - News, analysis, reports:
"The Abraaj Group (“Abraaj”), a leading investor operating in growth markets, today announced that it has entered into an agreement to divest its 50 per cent shareholding in Acıbadem Sağlık ve Hayat Sigorta A.Ş. (“Acıbadem Sigorta” or “the Company”) to Khazanah Nasional Berhad (“Khazanah”), the Government of Malaysia's strategic investment fund.
Under the terms of the agreement, Khazanah shall acquire a combined 90 per cent shareholding in Acıbadem Sigorta from both Abraaj and Turkey’s Aydınlar family in exchange for a cash consideration. Mehmet Ali Aydınlar will retain a 10 per cent stake in the Company and will remain as Chairman of Acıbadem Sigorta. Further financial details of the transaction were not disclosed."
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