Uniqa plans no takeovers in 2014 -CEO in paper

VIENNA Thu Dec 12, 2013 2:44am EST

Related Topics

VIENNA Dec 12 (Reuters) - Austrian insurer Uniqa does not intend to make quick acquisitions with the money it raised in a stock sale this year, Chief Executive Andreas Brandstetter told an Austrian newspaper.

"We want to use only a small part of the capital we raised for purchases," he was quoted as saying by Die Presse in an interview published on Thursday.

"But this year and next we won't make any more acquisitions because we deliberately want to act in a risk-averse way. Also, we don't need takeovers to achieve our growth targets," he added.

Uniqa raised 757 million euros ($1.03 billion) in a stock sale in October that it has said would finance expansion in eastern Europe and boost its free float to more than a third.

($1 = 0.7251 euros) (Reporting by Michael Shields; Editing by Georgina Prodhan)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.