Slovenian insurer Triglav to sell its Czech unit
20/10/2014 10:37
LJUBLJANA, Oct 20 (Reuters) - Slovenia's largest insurer
Zavarovalnica Triglav ZVTG.LJ has agreed to sell its Czech
business Triglav Pojistovna to Prague-based VIGO Finance, part
of VIGO Investments Group.
"The sale is expected to be concluded by May 2015," Triglav
said in a statement, adding that the sale is in line with its
strategy of focusing on southeastern Europe.
Majority state-owned Triglav, which also has operations in
Croatia, Serbia, Bosnia, Macedonia and Montenegro, did not
reveal the value of the deal.
It said its Czech unit represents less than 1.5 percent of
Triglav's balance sheet assets and had a market share of 1.1
percent in the Czech Republic.
Triglav shares rose by 0.75 percent to 24.90 euros by 0920
GMT, against a flat SBI blue-chip index .SBITOP .
(Reporting By Marja Novak; Editing by David Goodman)
((Marja.Novak@thomsonreuters.com; +386-8-205-6369; Reuters
Messaging: marja.novak.thomsonreuters.com@reuters.net))
Keywords: SLOVENIA TRIGLAV/