15 10 2007 Tirana_ The Vienna Insurance Group has bought a majority stake in the Albanian insurance company, Sigma for €16.13 million.
Vienna Insurance Group has bought 75 per cent plus one share holding in Sigma with an agreement to purchase a further 12.5 per cent in the first half of 2011, and the remaining stake in the middle of 2012.
The ceremony for the transfer of the stock was held on Wednesday.
“Sigma is the second biggest insurance company in Albania and, with its distribution capacities in Macedonia and Kosovo, an important building block for the Vienna Insurance Group”, said the Austrian company’s General Manager, Guenter Geyer, in a press release earlier.
Sigma became the third Albanian insurance company to be taken over by foreign investors after the sale of Sigal and Interalbanian in 2006.
The Vienna Insurance Groups owns 40 companies in 21 countries, with an annual turnover of €25 billion.(Birn)
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