Uniqa Group Austria, a provider of insurance products and related services, has announced that it intends to acquire the entire shareholding in Unita Vienna Insurance Group.
An agreement to this effect was reached with the previous owner, Vienna Insurance Group. The details will be settled by a share purchase contract which is still to be signed.
The transaction sees Uniqa becoming sole owner of the Romanian property insurer, significantly strengthening its presence in the region. As the new owner of Unita, Uniqa will continue to place emphasis on close co-operation with the local Raiffeisenbank.
The transaction is subject to approval by the relevant authorities and should be concluded until the end of September 2008.