VIENNA Dec 12 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
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)