PZU bids for Croatia Osiguranje insurer
October 11, 2013
Poland's top insurer PZU is bidding on a 51.5% stake of Croatian insurer Croatia Osiguranje (CO) at EUR 900.9 per share and additionally offers a EUR 50 million capital increase of the company, Croatian government wrote on Twitter.
PZU's bid thus translates to EUR 192.5 million.
PZU's rival in the bid, local tobacco and tourism group Adris, is bidding on a 43% stake, offering EUR 790.27 per share plus EUR 130 million capital injection, the government said.
Adris's bid thus stands at EUR 234.5 million.
Croatia currently holds 80.2% in Croatia Osiguranje and plans to retain "a minimum of 25% plus one share" and a "maximum share of 30%," the country's Finance Ministry said back in August.