Slovenian reinsurer Sava Re said on Thursday it has acquired from lender Nova Kreditna Banka Maribor (NKBM) a 45% stake in pension company Moja Nalozba Pokojninska Druzba.

The deal is conditional on getting relevant approvals from the Insurance Supervision Agency and the Competition Protection Agency, Sava Re said in a filing to the Ljubljana bourse.

After the conclusion of the deal, Sava Re Group will become the owner of 100% of the pension insurer.

NKBM's exit is part of the group's consolidation and restructuring strategy for greater focus on its core banking business. Read the full story SLOVENIA's NKBM sells 45% stake in pension co to Sava Re