Grawe considers new acquisitions in Romania

3. Juli 2006, 00:00

Austrian life insurance company Grawe considers new acquisitions, after buying rival company Sara Merkur last year

Austrian life insurance company Grawe considers new acquisitions, after buying rival company Sara Merkur last year.

"Talks with two other insurance companies started several months ago", Grawes general director peter Kasyk told business daily Ziarul Financiar. He didnt reveal the name of the companies but specified that the acquisitions would be announced in a press conference at the end of the year.

Kasyk added that the target could be a medium-sized insurance company, with a market share of 3-4 per cent.

Grawe was founded in 1828 and entered the Romanian market in 2000. In March, Grawe acquired the local branch of Sara Mercur, controlled by the Merkur group, also from Austria. Grawe is the majority stakeholder of Grawe Romania Insurance, with a 99.882 per cent stake.

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