March 19 (SeeNews) - Bulgaria's financial regulator said that local insurance company Armeec has sold a stake of over 80% in its Russia-based unit Itil Armeec.
The regulator did not provide any further details on the sale in its statement published on Friday.
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Armeec is a unit of Bulgarian blue-chip diversified group Chimimport [BUL:6C4]. At end-2017, Chimimport held a 96.17% stake in Armeec, according to data from the group's consolidated annual financial statement.
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