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    Foreign shareholder of 'Bashak-Inam Sigorta' plans to sell its stake

    There is no party willing to buy a stake of Groupama Sigorta in 'Bashak-Inam Sigorta' yet

    Baku. 23 December. REPORT.AZ/ Turkish company Groupama Sigorta, which controls 14% shares of 'Bashak-İnam Sigorta' JSC wants to sell its stake. 

    Report informs, the reason is Turkish owner of the company, French company Groupama plans to sell the insurance business in Turkey. In the end, the French decided to leave the Azerbaijani market.

    However, there is no party willing to buy a stake of Groupama Sigorta in Bashak İnam Sigorta yet. Now the attention of the shareholders of the Azerbaijani companies are more directed to another shareholder - Zaminbank which is in the process of liquidation.

    The fact that the bank's liquidator - Azerbaijan Deposit Insurance Fund wants to withdraw funds in the amount of 1.7 mln AZN invested in the charter capital of 'Bashak-İnam Sigorta' by Zaminbank. This will mean a reduction in the total capital of the company from 5 to 3.3 mln AZN, which violates the requirements of insurance companies for minimum capital (5 mln AZN). Thus, shareholders of 'Bashak-İnam Sigorta' will have to urgently find a replacement to Zaminbank and increase capital. This issue was discussed yesterday at last extraordinary general meeting of shareholders. Decision adopted at the end of the meeting will be made public next week.

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