Банкеръ Weekly

Briefs

LAST INSPECTION - AND DZI IS PRIVATE

The Privatisation Agency (PA) Executive Council approved the parametres of the sale of the State Insurance Institute (DZI), PA's press office answered a question of the BANKER weekly. Now the deal has to be approved by PA's Supervisory Board and then the agreement will be signed. The deal might be concluded by the middle of next week (August 1).The only offer for acquisition of 80% of the capital of DZI was submitted by the Sofia-based Contract EOOD. The company offered to pay EUR20,500,000 for the majority package of shares. The remaining 20% will be put up for sale on the stock exchange, most probably by end-September. In its business programme the candidate-buyer of DZI promises to invest BGN11MN in the company over the next five years and keep the currently working 720 employees. Under the programme, Interamerican, which is owned by the international insurer Eureko, will consult Contract EOOD on the management of DZI.

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