"Eureko and Garanti Bank Announce Partnership in Turkey - Developing our Strategic European Focus
Eureko B.V. and T.Garanti Bankasý ('Garanti') of Turkey have today announced that they have reached agreement for a long-term, exclusive insurance partnership, whereby Eureko is to acquire 80% of Garanti´s Non-Life insurance business - Garanti Sigorta A.S. ('GS'), as well as a 15% stake in Garanti Emeklilik ve Hayat A.S. ('GE'), Garanti´s Life and Pensions business.
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The transaction also provides Eureko with an option to acquire a further 35% of GE, and encompasses a long-term agency agreement with Garanti, covering both GS´ and GE´s current and new business. "
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