Romanian Astra Insurance sells its 16% stake in Generali Insurance's capital

Astra Insurance sold its 16.03 percent stake in Generali Insurance's capital to Generali Holding Vienna. Currently, the operation has to be approved by the Insurance Supervisory Commission (CSA). “Astra Insurance notified the Bucharest Stock Exchange about the purchase contract between Astra Insurance, as seller, and Generali Holding Vienna, as buyer, for sale of the package totaling 207,498,174 shares with a nominal value of RON 0.10 each, representing 16.02 percent of the social capital of SC Generali Asigurari SA”, writes a statement from Astra Insurance. Astra owns 16.03 percent of the Generali package since 1994, when the Italian financial group entered the local market. Last week, Nove Group announced that theAustrian insurance group Uniqa sold its remaining 27 percent stake in Romanian insurer Astra to Nova Group, the majority shareholder in Astra, for some EUR 25 million. Irina Popescu, irina.popescu@romania-insider.com (photo source: sxc.hu)