Competition Council Authorizes Ardaf Acquisition By Sabile

F.A.
Ziarul BURSA #English Section / 28 iunie 2007

The Competition Council has authorized the acquisition of Asigurare Reasigurare Ardaf SA by Sabile Ltd. based on the conclusion that this move will not restrain, remove or distort fair competition on the Romanian insurance market.

Sabile Ltd, a member of the Czech group PPF Investments, currently owns 70.8% in Ardaf, following the purchase of the stakes previously held by Tender SA and Daniel Voicu. The acquisition was pre-approved by the Insurance Supervisory Commission.

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