Grawe, Uniqa, Sava Re to acquire Zavarovalnica Maribor?

Nova Kreditna Banka Maribor (NKBM) officially started the sale of its 51-percent stake in Zavarovalnica Maribor on Friday.

UniCredit CAIB Slovenia, which was hired by the state four years ago to carry out the procedure of public offering of Sava Re shares, has been appointed as an advisor for the sale of aforementioned stake. Although the details have not been revealed yet, NKBM, unofficially, expects to get between 50 and 90 million euros for its stake in this insurance company.

NKBM must sell its stake in Zavarovalnica by the year's end if it wants to avoid to be treated as a banking-insurance conglomerate, in case of which it would have to meet stricter criteria for the quality of capital.

Grawe and Uniqa have already expressed their interest in taking over Zavarovalnica Maribor, and so has Sava Re, which holds a 49-percent stake in this insurance company.