LJUBLJANA (Slovenia), June 7 (SeeNews) – Slovenian reinsurer Sava Re [LJE:POSR] said on Friday it has acquired 84% shareholding interest in local investment fund management company KBM Infond owned by lender Nova KBM.
Taking into account own shares, the company controls 85% of the voting rights, Sava Re said in a filing with the Ljubljana Stock Exchange
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“With the subsidiary Zavarovalnica Sava d.d. already holding a 15% stake in the company, the members of the Sava Insurance Group now hold 100% of the voting rights in Infond d.o.o,” the statement added.
The price of the deal was not disclosed.
KBM Infond is one of the largest fund managers in Slovenia, according to information posted on the company's website. It manages Infond Umbrella Fund with 22 sub-funds with total assets exceeding 300 million euro ($342 million).
($ = 0.8884 euro)
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