Warta Sale: VIG Unsuccessful

Businessn.a. ♦ Published: January 20, 2012; 15:29 ♦ (Vindobona)

The sale of the Polish insurance group Warta is closed. The German Talanx takes over Warta, Vienna Insurance Group had no chance.

Warta Sale: VIG Unsuccessful / Picture: © Talanx

Vienna Insurance Group, which aimed to acquire Warta, was not successful. The Belgian KBC sells Warta for € 770m to the third largest German insurance Group Talanx. As a result, Talanx becomes number two in the Polish insurance market. The closing of the transaction is expected for the second half of 2012. The approval of the competition authorities is still missing.

VIG did…