On December 22, 2014, Azimut completed the full acquisition of the Turkish independent asset management company AZ Global Portföy Yönetimi A.Ş.
On December 22, 2014, Azimut, an Italian independent asset manager, completed the full acquisition of the Turkish independent asset management company AZ Global Portföy Yönetimi A.Ş. (“AZ Global”), becoming AZ Global’s sole shareholder. Azimut completed the acquisition of AZ Global by purchasing the remaining 40% of AZ Global’s shares. In addition, Azimut has agreed to sell its 10% equity stake in Global Menkul Değerler A.Ş. (“GMD”) to the majority shareholder of GMD at market price.
Subject to regulatory approval, Azimut, through AZ International Holdings S.A., will recognize a total consideration (including the sale of GMD shares assuming current market prices) of around €1.3 million.
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