21:19 Universalna Insurance Company Sells 9.99% Of Universalnyi Bank's Shares To EFG Eurobank For UAH 25 Million | |
03/13/2007 | 16:13 / Author: Vasyl Trukhan / Topic: Finance, Regions
of Ukraine The
Universalna insurance company (Lviv) has sold 9.99% of the shares in the
Universalnyi bank to EFG Eurobank ( The
press service of the insurance company announced this in a statement, a text of
which Ukrainian News obtained. Citing
the insurance company's director-General Natalia Bezbakh, the statement says
that the decision to sell the shares was made because of EFG Eurobank's
interest in acquiring 100% of the shares in the bank and the favorable
conditions for mergers and acquisitions in the banking sector. Hanna
Honcharyk, the head of the corporate communications department at the insurance
company, said that the sale agreement was completed on March 1. «The
agreement regarding the Universalnyi bank was closed on March 1,» she said. The
decision to sell the shares was also influenced by the desire of the insurance
company to concentrate its resources on developing its insurance operations,
particularly its sales operations such as bank assurance. As
Ukrainian News earlier reported, Universalna is registered as an open
joint-stock insurance company. The
company has structural divisions in all regions of The
Universalnyi bank is registered as an open joint-stock bank. EFG
Eurobank acquired the Universalnyi bank on July 18, 2006. With
assets of EUR 45 billion, EFG Eurobank is the second largest bank in | |
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