Zavarovalnica Triglav dd : Agreement on the Sale of the Czech Subsidiary Signed
December 21, 2014 at 11:39 am IST
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In accordance with the Ljubljana Stock Exchange Rules and the applicable legislation, ZAVAROVALNICA TRIGLAV d.d., Ljubljana, hereby publishes the following notice:
Zavarovalnica Triglav d.d. hereby announces that in the process of selling the Czech subsidiary Triglav pojišt'ovna a.s., Brno, its subsidiary Triglav INT d.d. concluded an agreement on the sale of shares with VIGO Finance a.s., Prague, part of the VIGO Investments Group. The sales transaction will be executed after all regulator's approvals have been obtained and other contractually agreed sales terms and conditions have been met - planned before the end of June 2015.
The sale of the Czech subsidiary will have no major impact on the performance of the Triglav Group and is in line with its strategic guidelines. The Group continues to strengthen its position in the key markets of South-East Europe. All of its existing markets are carefully assessed against profitability targets as well as current and expected market shares. In this framework, the parent company continues with activities for further optimisation of the Group's operations, greater homogeneity of the Group, more efficient governance of all subsidiaries and other activities aimed at increasing the value of the Triglav Group.
This information will be published on the website of Zavarovalnica Triglav d.d. at www.triglav.eu as of 19 December 2014 and will remain available on the Company's public website for a period of at least five years.
Zavarovalnica Triglav dd is Slovenian-based company principally engaged in the insurance and financial services. Zavarovalnica Triglav dd is the controlling company of the Triglav Group which offers insurance, asset management and banking services. Zavarovalnica Triglav dd, Zdrastvena zavarovalnica dd and Pozavarovalnica Triglav Re dd provide wealth, life, voluntary additional pension and health insurances. The insurance sector of the Company also operates in the Czech Republic, Croatia, Bosnia and Hercegovina, Montenegro, Serbia and Macedonia. Through Triglav DZU ddo, Triglav Nalozbe financna druzba dd and Triglav nepremicnine dd the Company provides investment fund management, real estate and banking services. As of June 22, 2012, the Company acquired a 100% stake in Investicijsko podjetje, Trgovanje z lastnimi nepremicninami doo from Sava dd.