A further 23% stake in Astra sold to Austrian-based Uniqa

Austrian group Uniqa has become the majority shareholder of Astra-Uniqa, after signing a contract for the purchase of a 23% stake in the company with businessman Dan Adamescu. In the summer of 2005, Uniqa bought another 27% of the shares of the insurance company. “The transaction was conducted in accordance with the original deal. Uniqa now has 50% plus one share in Astra. The company will probably be delisted from the Stock Exchange, although this is not expected to occur imminently. The sale price was fixed on the company’s financial performance, which exceeded expectations,” Dan Adamescu told ZF. This transaction is part of an agreement signed by Adamescu with the Austrians midway through 2005, according to which Uniqa would hold a majority stake in Astra by the end of this year. Nova Trade, the company through which Adam is a shareholder of Astra, is therefore left with 47% of the shares. The value of the transaction has not yet been revealed. In the summer of 2005, the Austrians bought 27% in Astra Asigurari (Astra Insurance), for 10 million euros.