Malaysia's Khazanah in Turkish insurance buyout, Abraaj exits
Malaysian sovereign wealth fund Khazanah Nasional has agreed to pay $252 million for a 90% stake in Turkish health insurer Acibadem Sigorta. The investment facilitates the exit of The Abraaj Group, which held a 50% stake in the business.
Mehmet Ali Aydinlar, the founder of parent company Acibadem Group, will sell 40% of his holding to Khazanah and retain the remaining 10%. Abraaj's original investment came in 2007 as part of a broader...
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