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Slovenia's Zavarovalnica Triglav, Sava Re complete acquisition of Diagnosticni Center Bled

Thursday, 19/03/2020

Slovenian insurers Zavarovalnica Triglav [LJE:ZVTG] and Sava Re [LJE:POSR] have completed the acquisition of local health care company Diagnosticni Center Bled through their joint venture company ZTSR, Zavarovalnica Triglav said on Thursday.

"From the point of view of Triglav Group, this investment is part of its regular activities of managing its extensive investment portfolio and has no significant impact on its composition," Zavarovalnica Triglav said in a statement with the Ljubljana bourse.

"The Group pursues a somewhat conservative investment policy. In this context, it actively adjusts the proportions of each type of investment, taking into account the situation and opportunities, such as investments in the market of private healthcare service providers," the statement added.

The price of the deal was not disclosed.

Back in August 2019, Zavarovalnica Triglav said it signed a share purchase agreement with Sava Re, under which the former has the option to acquire a 40% stake in Diagnosticni Center Bled, representing 50% of the voting rights.

ZTSR is a 50/50 joint venture of Zavarovalnica Triglav and Sava Re.

Zavarovalnica Triglav shares closed 3.57% lower at 24.3 euro ($26.2) on Thursday, while Sava Re shares lost 9.21% to 13.8 euro on the Ljubljana Stock Exchange. (Source: www.seenews.com)

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