August 2 (SeeNews) - Ukraine's financial regulator has approved the planned acquisition of 89.29% of HDI Strakhuvannya by Bulgaria's Euroins Insurance Group (EIG) in a deal, which will boost EIG's stake in the Ukrainian insurer to 99.29%, a spokesman for the Bulgarian company told SeeNews on Tuesday.
The State Commission for Regulation of Financial Services Markets of Ukraine has previously declined to give the go-ahead to the deal twice, as the documents provided by the candidate buyer were incomplete.
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In February 2015, EIG signed a deal with Germany-based Talanx Group to acquire its operations in Bulgaria and Ukraine, including HDI Strakhuvannya. At the time, the German group said it is selling its two subsidiaries HDI Zastrahovane in Bulgaria and HDI Strakhuvannya in Ukraine "at a price in the middle single-digit million euro range".
Bulgaria's financial operator approved the acquisition of HDI Zastrahovane by EIG at end of December, after requesting additional information from the buyer on several occasions.
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