Azimut Holding becomes the exclusive shareholder of Azimut Global Portfolio Yonetimi after the acquisition of the remaining 40%. The group also today completed the sale of its 10% stake in Global Menkul Degerler to the majority shareholder of GMD.
Yesterday Azimut acquired a 70% stake in Azimut Bosphorus Capital Portfoy. With these operations, Azimut reports in a note, will be able to develop its plans in Turkey in the future "through an integrated financial advisory platform made up of Azimut Portfoy, AZ Notus and Azimut Bosphorus which currently manages AuM equal to over 2,2 billion Turkish lira (equivalent to 800 million euro) with a market share in Turkey of 2,6%”.
“We continue to believe and invest in developing an integrated, strong and independent platform in the Turkish asset management industry,” he comments. Pietro Giuliani, Chairman and CEO of Azimut Holding. “We have a market share in Turkey of 2,6% of the total industry and our leadership among independents with a market share of 45%, but in the coming years we want to develop more than the market thanks to our organic growth and all 'further process of consolidation'.
