Business

Turkey Wealth Fund buys 20% shares in finance firm

Fund obtains shares of payment and card systems company, press release says

Turkey Wealth Fund (TWF) has made yet another investment in the finance sector, it said late on Wednesday.

TWF has bought 20% shares of Platform Ortak Kartli Sistemler A.S., which was established last September by three state-lenders Vakif, Ziraat and Halkbank for developing payment and card systems, according to a statement.

Last week, the fund purchased 10% shares of insurance company Gunes Sigorta, owned by Groupama Holding Filiales et Participations.

TWF was established in 2016 to boost the value of state-owned assets and contribute to strategic investments.

Among the companies in its portfolio are flag carrier Turkish Airlines, state lender Ziraat, Borsa Istanbul, and telecommunications giant Turk Telekom.

Source
Anadolu Agency

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