April 13 (SeeNews) - Slovenian reinsurer Sava Re d.d. [LJE:POSR] said on Friday it signed a contract for the acquisition of the entire capital of Croatian insurers ERGO osiguranje d.d. and Ergo životno osiguranje d.d.
The contract will be signed on April 13 with the sellers Ergo Austria International AG and Ergo Versicherung Aktiengesellschaft, Sava Re said in a filing with the Ljubljana Stock Exchange (LJSE).
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The ownership of the target companies' shares will be transferred to the acquirer after all suspensive conditions have been satisfied, Sava Re said.
No financial details were revealed.
The acquisition will be carried out through Zavarovalnica Sava, a wholly-owned subsidiary of Sava Re, the Slovenian company said.
Sava Re's shares rose by 2.29% to 17.9 euro ($22.0) as at 13:15 CET on Friday, while the SBITOP blue-chip index of the LJSE was up 0.91% by the same time.
($ = 0.811926 euro)