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AXA to buy-out OYAK's 50% stake in AXA OYAK, Turkey's 2nd largest insurer


Press Release

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February 6, 2008

published at 1:00 AM CET

AXA announced today it has entered into an agreement to acquire OYAK's fifty percent (50%) share in AXA OYAK Holding A.S («AXA OYAK»), a company established by AXA and OYAK in 1999. Under the terms of the agreement, AXA will pay a purchase price of $525 million (approximately Euro 355 million) in cash for OYAK's 50% share in AXA OYAK.


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