The draft government decision envisages a procedure of preliminary purchase by the state and subsequent sale to a strategic investor with the approval of the NBM.
Preliminary approval for the transaction from the National Bank was received by VIG AG WVC (Vienna Insurance Group AG Wiener Versicherung Gruppe), the largest insurer in Central and Eastern Europe, whose capital is present in the Moldovan IC Donaris Viena.
The once expropriated package of newly issued shares of Moldasig (81%) underwent a significant devaluation during repeated and unsuccessful trades on the Stock Exchange of Moldova. It is now trading at 137.5 million lei, which is more than half the value of the company’s net assets.
Negotiations with the Austrian investor on a possible deal have been going on since 2022. After the buyout, the stake will become the property of the state, then it will be offered for sale there. The price of the deal is unlikely to change. The starting price of the stake was 380 million lei.
Read more details in Friday’s issue of Logos Press.
