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Euroins Romania cuts stakes in Bulgaria's Formoplast, Atomenergoremont to below 5%

Euroins Romania cuts stakes in Bulgaria's Formoplast, Atomenergoremont to below 5% Author: Ken Teegardin. Licence: Creative Commons, Attribution-ShareAlike 2.0 Generic.

SOFIA (Bulgaria), December 18 (SeeNews) - Insurer Euroins Romania Asigurare-Reasigurare has lowered its shareholding interest in two Bulgarian companies - plastic and rubber products manufacturer Formoplast [BUL:4F8] and power plant equipment repair services company Atomenergoremont [BUL:68A], to below 5%, Sofia bourse data showed on Friday.

Euroins Romania Asigurare-Reasigurare decreased its stake in Formoplast to 4.53% and now controls 172,382 shares in the company, Formoplast said in a bourse filing.

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According to Formoplast's most recent financial report, Euroins Romania owned 8.19% of the company's share capital at the end of September.

In a separate filing, Atomenergoremont said that Euroins Romania Asigurare-Reasigurare has reduced its shareholding to 4.96% from 6.70% in a deal concluded on December 14. The insurer now holds 762,253 shares in the capital of Atomenergoremont.

Formoplast's shares closed flat at 6.20 levs ($3.70/3.17 euro) on the Bulgarian Stock Exchange on Friday. Atomenergoremont shares last traded on the BSE on December 3 when they closed unchanged at 5.40 levs.

Euroins Romania Asigurare-Reasigurare is part of Bulgaria's Euroins Insurance Group, which is a unit of Eurohold Bulgaria [BUL:4EH].

(1 euro = 1.95583 levs)

Euroins Romania Asigurare Reasigurare SA is among the biggest insurers in SEE, for more reference take a look at Top 100 insurers
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