White & Case advises TVF Finansal Yatırımlar on sale of strategic stake in Türkiye Sigorta

Global law firm White & Case LLP and GKC Partners have advised TVF Finansal Yatırımlar A.Ş. on the successful sale of a five percent stake in Türkiye Sigorta A.Ş., a Turkish insurance company.

The transaction comprised the sale of shares with a total nominal value of TRY 500 million, representing 5% of the issued share capital of Türkiye Sigorta, at a price of TRY 13.50 per share, raising gross proceeds of approximately TRY 6,750 million through an accelerated bookbuilding process to non-Turkish resident institutional investors.

Following completion of the transaction, TVF Finansal Yatırımlar’s direct shareholding in Türkiye Sigorta is 76.10% and the Türkiye Wealth Fund continues to be Türkiye Sigorta’s principal shareholder.

Citigroup Global Markets Limited and JP Morgan Securities plc acted as joint global coordinators and bookrunners.

Türkiye Wealth Fund is an asset-backed development fund and the strategic investment arm and equity solutions provider of the Republic of Türkiye. TVF Finansal Yatırımlar A.Ş. is a portfolio company wholly owned by the Türkiye Wealth Fund.

The White & Case team in London which advised on the transaction was led by partner Laura Sizemore and included associate George Davie. The GKC Partners team in Istanbul included counsel Derin Altan and associate Muhammed Aşula. White & Case has a professional association with Istanbul-based GKC Partners. 

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