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Dec 03, 2009 11:11 EEST
December 3 (SeeNews) - Slovenia's Prva Group said it will merge its pension funds in Serbia and Romania, Garant penzijsko drustvo and Prima Pensie, with local peers.
Garant penzijsko drustvo in Serbia will be merged with the pension arm of Hypo Alpe-Adria Bank, the Slovenian group said in a statement on its website earlier this week after its Supervisory Board approved a consolidated plan for next year.
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In Romania, Prva will merge its pension business with that of Banca Comerciala Romana, part of Austria's Erste Group, in February 2010 and will then liquidate Prima Pensie.
No further details were immediately available.
Prva Group (www.prvagroup.eu) owned 99% of both Garant penzijsko drustvo and Prima Pensie at the end of last year, according to the group's 2008 annual report.
The group had 243.8 million euro ($366.8 million) of assets under management on October 31, it said on its website.
Across southeast Europe, the Slovenian company also provides mandatory and voluntary supplementary pension insurance in Kosovo, Albania, Montenegro and Macedonia.
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