Turkısh Is Bank To Sell Stake In Anadolu Sıgorta To Unıt
Turkish private lender Is Bank (ISCTR.IS) said late Monday it plans to sell its 35.5% stake in insurer Anadolu Anonim Turk Sigorta Sirketi, or Anadolu Sigorta, (ANSGR.IS) to one of its units.
The bank said it will sell its stake, worth 151 million Turkish lira ($98.4 million), to reinsurance company Milli Reasurans, which already owns 22% of Anadolu Sigorta.
The rest of Anadolu Sigorta's shares are listed on the Istanbul Stock Exchange.
Is Bank owns 76.6% of Milli Reasurans.
(SB-SB-ENG)