EMF Capital Partners Acquires Aviva’s General Insurance Business in Turkey (CEE and CIS)

Source: EMF Capital Partners

A consortium of investors led by EMF Capital Partners, a private equity firm focused on financial institutions in emerging markets, has acquired Turkey-listed non-life insurance company Aviva Sigorta from insurance and asset management company Aviva. EMF’s investment was structured through the EMF New Europe Insurance Fund. Development finance institutions DEG and FMO also participated in the acquisition. Financial details of the transaction, which is subject to regulatory approval and expected to be completed in the first half of 2014, were not disclosed.