Insurer Groupama to buy Romanian company Asiban

PARIS, April 9 (Reuters) - French mutually-owned insurer Groupama said on Wednesday it had agreed to buy Romanian peer Asiban SA in a deal which would make Groupama Romania's third-biggest insurer.

Groupama did not say how much it paid for Asiban but added that Asiban had 2007 sales of 185.8 million euros ($292.4 million).

Groupama has recently been focusing on takeovers in fast-growing emerging markets, and the Asiban deal follows its acquisition of Hungarian insurer Garancia in February.

(Reporting by Sudip Kar-Gupta)