The Italian group GENERALI informed its Slovenian asset management arm - GENERALI Investments Slovenia - is in the process of acquiring ILIRIKA FM AD SKOPJE by merger with GENERALI Investments AD Skopje, a subsidiary of the oldest asset management company in Slovenia, GENERALI Investments. GENERALI mentioned the transaction is subject to relevant regulatory and competition approval.

"This transaction further consolidates the market position of GENERALI Investments AD Skopje as the second largest asset manager in North Macedonia. With the completion of the merger with ILIRIKA FM AD SKOPJE, GENERALI Investments AD Skopje will increase its market share in asset management in North Macedonia to 26%", as the Italian group annouced in a statement.

Established in 2008, GENERALI Investments AD Skopje manages four investment funds with EUR 31.3 million of assets of approximately 2000 investors under management. Upon the merge with ILIRIKA FM AD SKOPJE, the company will take over three ILIRIKA investment funds and discretionary mandates, with 1900 investors, increasing its total assets under management to EUR 46 million of 3900 investors.