February 17 (SeeNews) - Bulgarian power plant equipment repair services company Atomenergoremont [BUL:68A] said on Monday that Euroins Romania Asigurare Reasigurare has increased its stake in the company to 5.81%.
Following the transaction, Euroins Romania controls 891,353 shares in the company, Atomenergoremont said in a bourse filing.
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At the end of 2019, Euroins Romania was not among Atomenergoremont's shareholders with a stake exceeding the 5% reporting threshold. At the time, local Bultrade Corporation held 55.2% interest in Atomenergoremont, while OZK insurance owned 8.51%. Universal pension funds Toplina and Badeshte were the other two shareholders with over 5% interest, controlling 6.99% and 6.96%, respectively.
Atomenergoremont shares last traded on the Bulgarian Stock Exchange at a price of 5.4 levs ($2.99/2.76 euro).
Euroins Romania is part of Bulgaria's Euroins Insurance Group (EIG). Last week, Romania's financial regulator ASF said that it has fined Euroins Romania with 500,000 lei for violating some provisions of Law 132/2017 regulating the payment of compensations, and appointed the Insurance Guarantee Fund (FGA) as temporary administrator at the company for a limited period of time, until the appointment of a new board of directors. The company is due to hold a general shareholders meeting on March 16 to elect new board members.
(1 euro = 1.95583 levs)