ERGO's Croatian subsidiaries change of ownership got the official approval

SAVA Re was granted the Croatian Financial Services Supervisory Agency's approval for the direct acquisition of the control ownership package (over 50%) of the Croatian subsidiaries of ERGO, namely ERGO Insurance and ERGO Life Insurance, both domiciled in Zagreb.

The HANFA's decision published yesterday on the authority's website enumerates the following decisions related to the ERGO's subsidiaries ownership:

  1. Society Zavarovalnica Sava, d.d.is granted approval for the direct acquisition of a qualifying holding in the amount of over 50% of the voting rights and the share capital of the company ERGO osiguranje d.d. and is granted immediate approval to acquire a qualifying holding in the amount of over 50% in the voting rights and the share capital of the ERGO Life Insurance
  2. Society Sava Re, d.d., is granted the authorization for indirect acquisition of a qualifying holding in the amount of over 50% in the voting rights and the share capital of the company ERGO osiguranje d.d. and an approval for indirect acquisition is granted a qualifying holding in the amount of more than 50% in the voting rights and the share capital of the company ERGO Life Insurance d.d.
  3. ADRIS GROUP GROUP d.d. - authorization is granted for indirect acquisition of a qualifying holding in the amount of 10% up to 20% in voting rights and the share capital of the company ERGO osiguranje d.d. and indirect approval is granted acquiring a qualifying holding in the amount of 10% to 20% in voting rights and underlying the capital of ERGO Life Insurance d.d.
  4. Company CROATIA osiguranje d.d. - authorization is granted for indirect acquisition of a qualifying holding in the amount of 10% up to 20% in voting rights and the share capital of the company ERGO osiguranje d.d., and indirect approval is granted acquiring a qualifying holding in the amount of 10% to 20% in voting rights and underlying the capital of ERGO Life Insurance d.d.,
  5. Slovenian State Holding d.d., and the Republic of Slovenia are granted approval for joint indirect acquisition a qualifying holding in the amount of 20% to 30% in the voting rights and the share capital of the company ERGO osiguranje d.d., and approval is granted for the joint indirect acquisition of a qualifying holding of up to 20% 30% in the voting rights and share capital of the ERGO Life Insurance d.d.
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