03:08 AM EDT, 07/29/2026 (MT Newswires) -- Azimut Group's (AZM.MI) AZ International Holdings subsidiary agreed to purchase Turkish lender Yapı ve Kredi Bankası's asset management arm, Yapı Kredi Portföy Yönetimi, for a consideration of 305 million euros. The asset manager said Wednesday that the transaction is set to boost its footprint by unlocking cross-selling opportunities in Turkey. Closing of the deal is expected in December 2026, subject to regulatory clearances and customary requirements. Additionally, the entities will sign a 15-year distribution deal after the transaction concludes. The agreement will enlist Yapı Kredi as the exclusive distributor of the merged entity's products in the market.

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