Reinsurance company SAVA Re signed a deal on the purchase of 49 percent stake in Kosovo property insurance DUKAGJINI, in which it already controls a majority ownership stake. Fixed part of the price for the purchase of this stake, in the amount of EUR 8.5 million, will be paid at the beginning of 2011.
The seller is also scheduled to receive the variable part, which will depend on target company operation in 2010 and 2011. It is worth noting that the total sum for the purchase of 49 percent stake cannot exceed EUR 9.5 million, clarifies SAVA RE. The shares will be transferred to SAVA Re this year, announced the company on the web portal of Ljubljana Stock Exchange.
