Bosnia: GRAWE osiguranje finalized the absorption of non-life insurer VGT osiguranje

The Bosnian subsidiary of Austrian insurer GRAWE (GRAWE osiguranje) finalized the absorption of local non-life insurer VGT osiguranje, according to the latest registered operations by RVP - The Registry of Securities of the Federation Bosnia and Herzegovina.

According to RVV data, the absorption entered the registry on June 4. Thus, the VGT shares were transferred to GRAWE osiguranje - the company's share capital increasing to 8,020 shares, with a nominal value of BAM 1,000 per share - the equivalent of BAM 8 million or EUR 4.1 million.

The merger through absorption was announced last summer, in July 2017 the Bosnia's competition agency approving the takeover of VGT Osiguranje by the local unit of GRAWE.

In fact, before the merger, GRAWE held about 87.6% in VGT. The remaining 12.4% stakes were acquired by GRAWE last summer.

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