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Oct 03, 2007 10:52 EEST
October 3 (SeeNews) - Romania’s Banca Transilvania said it would buy on Wednesday a further 10% of insurance company BT Asigurari from local investment fund SIF 1 Banat Crisana for 5.65 million euro ($8.0 million), raising its stake to 89.97%.
SIF 1 Banat Crisana will exit BT Asigurari, following the transaction, Banca Transilvania said in a statement.
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The bank said it will also buy on Wednesday small individual stakes in BT Asigurari totaling 0.0832%.
Bucharest-based daily Zairul Financiar reported on Tuesday that Austrian insurance group Uniqa, Dutch life insurance and pension company Aegon, and France’s Groupama were interested in buying BT Asigurari. BT officials declined to comment on the report when contacted by the paper.
Banca Transilvania is listed on the Bucharest Stock Exchange, where its stock last traded unchanged at 0.9 lei ($0.38/0.27 euro) on Wednesday. It ended 1.12% up on Tuesday.
($ = 0.7051 euro)
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