TIRANA, June 2 (Reuters) - The sale of Albania's state-owned insurer INSIG is on hold and it may be re-offered for sale after the U.S. buyer asked for changes to the contract, having offered 25 million euros ($35.5 million) for a 61 percent stake, officials said on Tuesday.
Deputy Finance Minister Sherefedin Shehu said Albania had not heard from American Reserve Life Insurance after it asked for some changes to the contract, including details about what dividend Albania will get.
'The sale is now on hold until after summer,' Shehu told Reuters by phone. 'It might be re-sold if no accord is reached,' he added.
Albania holds general elections on June 28.
The World Bank's commercial lending arm, the International Finance Corporation and the European Bank for Reconstruction and Development no longer hold 39 percent of INSIG after their put option expired at end-2009.
American Reserve Life is part of Heritage Guaranty Holdings.
(Reporting by Benet Koleka; Editing by Adam Tanner and David Holmes) ($1=.7035 Euro) Keywords: ALBANIA INSURER/RESALE (Source: Forbes.com; Albanian Daily News)
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