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Dec 18, 2009 16:36 EEST
PODGORICA (Montenegro), December 18 (SeeNews) – Montenegro said on Friday it sold 41% of its largest insurer Lovcen Osiguranje for 6.0 million euro ($8.6 million) to Slovenian peer Triglav.
Thus, Triglav raises its holdings in Lovcen to 91.83%, the Montenegrin finance ministry said in a statement.
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Triglav has paid 72 euro per share in the acquisition of the 41% stake. The shares from that stake will be endorsed in January, the statement said.
“The signing of this contract marks the end of the financial sector privatisation,” Finance Minister Igor Luksic said in the statement.
Montenegro opened the tender for the 41% stake in August and Triglav was the sole bidder in it.
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