Abraaj Capital, the largest private equity firm in the Middle East, is considering the sale of its 50% stake in Turkish health insurer {{{*}}} Acibadem Sigorta, according to investment intelligence website Invest IQ.
Last year Abraaj sold its stake in Acibadem Saglik, Turkey’s largest hospital chain, to Integrated Healthcare Holdings, a division of Malaysian government investment arm Khazanah Nasional, in a deal that valued Acibadem Saglik at slightly less than $1.7bn.
Turkey’s insurance sector is growing at a “double-digit rate”, and this suggests there will be high demand for Abraaj’s stake in Acibadem Sigorta, whose premium incomes rocketed by 35.5% in 2012, Invest IQ argued.
The other 50% of Acibadem Sigorta belongs to the founder of health care group Acibadem, Mehmet Ali Aydinlar.
Abraaj has a total of about $7.5bn of assets under management.
Sorry, comments are closed for this post.