Omniasig buys 40% in AGI

Omniasig, the third leading general insurance company on the Romanian market has bought 40% in AGI Romania insurer, during a public offering the latter put out on RASDAQ, which ended on Tuesday. Therefore the news story run by Ziarul Financiar three weeks ago when the representatives of the two companies declined comment checked out. Omniasig bought 388,000 shares for 135,000 ROL each, paying a total of 1.3 million euros (52bn ROL), which will enable it to own 40% in AGI Romania. AGI sold 480,255 shares (72.8% of the total shares offered for sale) at 135,000 ROL each, so that it will increase its capital by 1.6 million euros to 3 million euros. Other entities to have subscribed during this offering were the current shareholders of the company, Arab German Insurance, Austrian investment fund Rivta Handelsges, controlled by businessman Fathi Taher, the National Union of Mutual Savings Banks and SIF Muntenia, but their stakes will shrink in line with the capital increase. ZF