03.08.2010 |
Concentration on Romanian subsidiaries
UNIQA Group Austria will dispose of its 27% investment in the Romanian SC Asigurare Reasigurare Astras S.A. (Astra), acquired in 2005, to the majority shareholder of the company, TNG- The Nova Group Investments. A relevant agreement was concluded between the UNIQA Group and the Romanian principal shareholder, which already holds 72.68% of Astra.
The change of ownership in the minority investment previously held by UNIQA is intended to be processed within the coming months as a block trade through the Bucharest Stock Exchange and still requires the approval of the responsible authorities. The agreement already concluded also includes the provision that, effective immediately, Astra will cease use of the branding phrase "A Member of the UNIQA Group".
UNIQA still remains represented in Romania through the 100% subsidiaries UNIQA Asigurari S.A. and UNIQA Asigurari de Viata S.A.
Vienna, 3. August 2010