The buyout contract of Omniasig was signed by BCR Leasing, BCR’s leasing division and stockholders of Omniasig Pensii.
Administrator of Omniasig Pensii, that manages Omniforte fund –tenth biggest fund of the market, with 1.5% market share – is controlled by TBIH Financial Services Group NV which holds 90% of common capital, while 10% is held by
Omniasig-Vienna Insurance Group insurer.
BCR Administrare Fond de Pensii, pylon II administrator within BCR group is 99.99% held by BCR and has a 3.1% market share with 135,628 contributors drawn by BCR fund, according to latter data made public by CNPAS.
TBIH Financial Servcies Group NV forecasts it will receive EUR 12 million for 90% stake it holds in Omniasig administrator, after its sale to BCR group, Kardan NV announced.
Transaction value was calculated at EUR 208 per contributor. At the price disclosed by Kardan, the value of entire company mounts to some EUR 13-13.5 million.
“It is a normal transaction in the market enforcement process. Negotiations began six months ago.” Cristina Nitescu, Omniasig’s managing director stated for NewsIn.
The merger will complete after the pensions market watchdog sends all the required authorizations.
BCR mentions in the media briefing that Omniforte will remain in Omniasig Pensii’s portfolio, whereas it intends to merger the two funds after the required approvals are received.
Translated and adapted by Camelia Oancea.
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