CIG Pannonia to buy life insurer peers
Hungary’s CIG Pannonia Life Insurance announced today that its board of directors has decided to purchase peers MKB General Insurance and MKB Life Insurance, Hungarian news agency MTI reported.
CIG Pannonia Life Insurance will acquire 98.97% of the shares of MKB Life Insurance, while subsidiary CIG Pannonia First Hungarian General Insurance will purchase 98.98% of the shares of MKB General Insurance from Versicherungskammer Bayern, MTI reported.
The transaction will require approval from the Hungarian Competition Authority, as well as the National Bank of Hungary.
Early this morning it was announced that trade in the shares of CIG Pannonia would by suspended today pending an announcement by the issuer that could affect the share price. CIG Pannonia closed at HUF 170 on Thursday. It has traded between HUF 183 and HUF 135 over the past year, MTI said.
Companies Spending Less on Advertising
Gov't Calls on Fuel Companies to Adjust Prices to Regional A...
Spar Magyarország Revenue Climbs Close to 16% in 2023
Hungary Launches HUF 15 bln Tourism Sector Support Program
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
