After the buyout, the stake has already become the property of the state and will be sold to the Austrian Insurance Corporation on the Stock Exchange of Moldova, with the approval of the NBM. The transaction on behalf of the Government is carried out by the Public Property Agency.
According to the investor, this transaction is the result of a multi-stage tender initiated by the Moldovan state, which bought more than 80% of the company’s shares. Peter Höfinger, Deputy CEO of VIG and responsible member of the Board of Directors for Moldova, commented on the proposed acquisition:
“We welcome the government’s decision to attract international investors who are focused on accelerating the local economy. As a market leader in the Central and Eastern European region, VIG will bring to the Moldovan insurance market in-depth knowledge that takes insurance protection to a new level With this planned investment, we express our confidence in Moldova’s EU accession path and will further develop the local insurance market for the benefit of our customers,” said Peter Höfinger.
VIG has been present on the Moldovan market since 2014, when it acquired Donaris Insurance Company, which currently serves more than 120 thousand customers. After the acquisition of Moldasig, VIG will become the leader with a market share of about 30%, the Austrian investor plans.
