Malaysia Sovereign Fund Pays $252M For Turkish Insurer

Law360, New York (July 29, 2013, 1:35 PM EDT) -- Malaysian sovereign wealth fund Khazanah Nasional Bhd. has agreed to acquire a majority stake in Turkish health insurance company Acibadem Sigorta for $252 million from its founder and Dutch private equity Abraaj Group, Khazanah announced Monday.

The fund will acquire Abraaj's 50 percent stake in the Turkish insurer and an additional 40 percent stake from Mehmet Ali Aydinlar, who founded Acibadem's health care group.

Aydinlar and his family will retain a 10 percent stake in Acibadem after the deal is complete. The deal is subject to...
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