Volksbanken Group Wants to Sell its 25% Stake in Insurer Victoria

Published: October 21, 2011; 12:48 · (Vindobona)

According to Wirtschaftsblatt, which is citing well informed sources, ÖVAG Österreichische Volksbanken-AG want to separate completely from Victoria Insurance by selling its shares to the Victoria’s majority owner Ergo, the unit of German Munich Re.

Volksbanken Group Wants to Sell its 25% Stake in Insurer Victoria / Picture: © Wikipedia / MrPanyGoff

The sale process is at an advanced stage. A closing of talks is expected in the coming weeks. Ergo has been interested for some time to complete the acquisition, now it is possible.

Victoria will continue to sell the insurance products through ÖVAG’s branches, which will be ensured by an appropriate agreement. Last year the insurance has assumed premiums of €…

This article includes a total of 117 words.

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