The insurance company Triglav Insurance Company a non-binding offer for the takeover of Croatia Insurance will give at the end of the week. For a little more than half of insurance company they are now willing to pay about 120 million euros . It is the unofficial information.
The Croatian state the deadline for submission of non-binding offer extended from yesterday till the end of this week. Probably because some of interested parties – which would in fact should be enough – asked for an extension.
Partly, the Triglav Insurance Company for Croatia would secure money from their own resources and partly with co-investors as we have already written. Interest will reportedly seek primarily to financial funds ,to the International Finance Corporation (with IFC they did not agree on co-investing in the current insurance company Triglav on Balkans ) and the European Bank for Reconstruction and Development. There are other scenarios – one might (eventually) buy both insurance companies.
For Croatian insurance company the interest has shown reportedly the Croatian Adris (dealing with tobacco, tourism, fish processing), the American insurer AIG, VIG Austrian, German Ergo and Polish PZU.
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The one who who would have the Triglav or Sava Re, Croatia and possibly with time and Serbian DDOR, will be a major insurer in the Balkans, say experts. If for example, Adris would manage to buy Croatia, it would probably try to get Sava Re ( Sava Re owns Zavarovalnica Maribor and Tilia), the unofficial sources said. Polish PZU apparently is more interested in Triglav ,which has not been yet state-listed for sale. Otherwise it is possible that the Triglav buys Croatia, and later one of the major players buy the Triglav. On buying a house Croatia Triglav ,Goldman Sachs advises.
