Yapi Kredi Portfoy to be Sold to Azimut Holding

Yapi Kredi Portfoy Yonetimi AS has reached an agreement with Italian asset management firm Azimut Holding SpA for its acquisition. Yapi Kredi CEO Erun stated that this step marks a milestone in terms of strategic growth objectives. The deal includes plans for a long-term partnership between the two companies. Azimut Holding is recognized as a globally operating portfolio management firm. With the acquisition of Yapi Kredi Portfoy, Azimut is expected to strengthen its position in Turkey's asset management market. Yapi Kredi, through this transaction, aims to transfer its portfolio management operations and focus on its core banking activities. While the financial details of the agreement have not yet been disclosed to the public, the parties are expected to complete the process after obtaining necessary regulatory approvals. Yapi Kredi CEO Erun emphasized that this collaboration will create added value for both sides. This is not investment advice.