The strategic move aims to strengthen Triglav's presence on the Slovenian pension insurance market and position the company to take advantage of future growth opportunities there.
The acquisition procedure started with the notice of a takeover bid on November 28. Zavarovalnica Triglav placed a buyout bid for the remaining 22,603 shares it did not already own, offering to pay 344 euro (USD 407.8) apiece.
Triglav said in a statement it acquired in the takeover process an additional 11,814 SPD shares, representing a stake of 36.51%.
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SLOVENIA's TRIGLAV raises SPD stake to 66.7% after takeover bid