French insurer to buy company in Azerbaijan
The Turkish unit of French insurer Axa said it may acquire an
insurance company in Azerbaijan next year as it seeks to expand in
the region, Reuters reported.
Istanbul-based Axa Sigorta, the country's largest insurer, is also considering takeovers in the Turkish market, Axa Chief Executive Cemal Ererdi told Reuters in an interview.
"We are interested in a company in Azerbaijan, our work continues on that. It looks like we'll finish in 2010," he said.
He did not provide further details on the company involved.
In 2008, Axa paid $525 million to its Turkish partner Oyak to acquire the latter's 50 percent stake in their joint venture, formed in 1999.
"We're not just looking at possibilities domestically, but at the Turkic republics and other surroundings, while using Turkey as a platform," he said. "Turkey is very important as a regional platform for the French Axa."*
Istanbul-based Axa Sigorta, the country's largest insurer, is also considering takeovers in the Turkish market, Axa Chief Executive Cemal Ererdi told Reuters in an interview.
"We are interested in a company in Azerbaijan, our work continues on that. It looks like we'll finish in 2010," he said.
He did not provide further details on the company involved.
In 2008, Axa paid $525 million to its Turkish partner Oyak to acquire the latter's 50 percent stake in their joint venture, formed in 1999.
"We're not just looking at possibilities domestically, but at the Turkic republics and other surroundings, while using Turkey as a platform," he said. "Turkey is very important as a regional platform for the French Axa."*
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
Subscribe
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!