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Astra Asigurări announced it has sold 16% of the shares of Generali Asigurări to Generali Holding Vienna, without disclosing the price.
At the moment, the deal still needs the approval of the National Insurance Oversight Commission, according to the legal provisions applicable to the insurance market, the communiqué sent by Astra states.
On Wednesday, Uniqa Group Austria made its exit from "Astra Asigurări", by selling its block of 27%, to "The Nova Group" (ed. note: owned by Dan Adamescu), the majority shareholder of the company, for 24.9 million Euros (106,024,425 lei).
Prior to this deal, the Nova Group owned 72.68% of the share capital of the company. After acquiring the majority stake from "Uniqa", its stake increased to 99.68%.
"Astra Asigurări" (symbol: ATRA) had a net profit of 3.86 million lei in the first three months of the year, down 20.4% over the similar period of 2010. In Q1 2011, the company"s income from gross subscribed premiums exceeded 334.7 million lei, up 1.49% YOY. The insurer paid over 159.9 million lei for in claims for RCA and CASCO insurance policies, according to company data.
"Astra Asigurări" has a share capital of 192,712,533 lei, divided into shares with a face value of 2.66 lei/share.
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