UNIQA takes over Romanian Astra insurance
The Austrian insurance group UNIQA has taken over the Romanian insurer Astra S.A., UNIQA said in a press release on Thursday.
UNIQA, which already held a stake in Astra S.A. since 2005, acquired another 23% of the company and now holds a controlling majority of 50% plus one share. The price of the 23% share, acquired from previous majority shareholder Nova Trade, was not publicized. The deal still needs approval by the Romanian authorities. The takeover of Astra, with its share of about 6.6% in Romania's insurance market, is part of UNIQA's focus on Central and Eastern Europe, where it aspires to establish itself as a uniform brand, providing insurance coverage for all industries.
UNIQA, one of Austria's leading insurance groups with a 22% share in the market, is active in 16 European countries. (monstersandcritics.com)
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