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iDeals Virtual Data Room Supports the Deal of the Year in Turkey

October 10, 2015

iDeals Virtual Data Room has been selected to support the biggest sale project of the year in Turkey, as the state-run bank Halkbank has announced sales of its subsidiaries Halk Sigorta JSC and Halk Hayat and Emeklilik JSC.

Halkbank has an 89.2 percent stake in general insurance company Halk Sigorta and a 94.4 percent stake in life and retirement insurance company Halk Hayat ve Emeklilik.

This privatization deal is expected to be the largest in Turkey in 2015, since the value estimate for Halk Insurance deal is between $ 750 thousand and $ 1 billion.

State-owned Halkbank is a key player in the Turkish economy and banking system. The bank operates the one of the largest banking network in Turkey with 886 branches nationwide and has at least one branch in every city of Turkey.

Turkish State Directorate of Privatization Administration announced they were entitled to prolong the bidding period.

This strategic deal is performed using iDeals™ Virtual Data Room platform.

iDeals™ Solutions has been a provider of secure document management services to the investment, legal and life sciences sectors since 2008. Our flagship product is iDeals™ VDR, a next-generation application that is utilized by companies and leading advisors in over 30 countries around the world.

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