The sale of Romania’s Asiban catches the eye of eight large insurance players-Businesses Standard

The sale of Asiban reached the stage of the final offers and Axa, Groupama, Uniqua, Eureko, Aegon, Fondiaria, Generali and Munich Re are interested in buying the local insurer.

The value of the transaction for the all the shares belonging to Asiban, Romania’s fifth largest insurer, is estimated to sand somewhere between 250 and 300 million euros.

The eight insurers are expected to submit offers by March 6, this year. The entire process should be completed in the second part of the year.

The company’s share capital belongs to four lenders, BRD-SocGen, The Savings Bank, Banca Transilvania and Banca Comerciala Romana, each holding a 25 percent stake.

Source: NewsIn