ASA KINDLUSTUS AS

ANNOUNCEMENT

18.06.1999

 

 

MAJORITY SHAREHOLDING IN ASA KINDLUSTUS AND AB ELUKINDLUSTUS SOLD TO 

FOREIGN INVESTOR

 

Major shareholders of ASA Kindlustus and AB Elukindlustus entered 

yesterday into contract to sell majority holdings in both companies to 

a foreign investor.

 

The contract is confidential and all activities related to the 

transaction must take place within 14 days, after which the company is 

free to publish the transaction details.

 

One stipulation for acquisition of majority shareholding is the 

replacement of insurance technical reserves, which are not in 

correspondence with legal provisions. The representatives of ASA 

Kindlustus and AB Elukindlustus have also introduced their plans and 

time schedules to the Insurance Inspectorate and received an approval 

from the respective authorities.

 

 

Aleksandr Zaporozhtsev

ASA Kindlustus AS

Director of Financial Department

Tel. +372 6419 286