March 9, 2018 / 3:08 PM / 2 years ago

Slovenia insurer Sava Re buys Serbian rival Energoprojekt Garant

LJUBLJANA (Reuters) - Slovenian insurer Sava Re (POSR.LJ) said on Friday it had bought 93 percent of Serbian insurer Energoprojekt Garant a.d. ENGR.BEL, which specialises in construction and liability insurance.

“The purchase is a part of Sava Re’s strategic goal to strengthen its position in the markets where it is present,” the company said. It did not disclose the value of the deal.

It also said it planned to buy the remaining shares in Energoprojekt Garant and merge it with Sava Re’s other company in Serbia, Sava Nezivotno Osiguranje a.d.o..

Sava Re operates in Slovenia, Croatia, Serbia, Montenegro, Macedonia and Kosovo.

Reporting By Marja Novak. Editing by Jane Merriman

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