KBC Group To Sell Polish Unit Warta To Talanx For EUR770 Million
20 Januar 2012 - 8:20AM
Dow Jones News
Belgium's KBC Group NV (KBC.BT) has agreed to sell its Polish
insurance unit Warta to Germany's Talanx International AG (HDI.YY)
for 770 million euros ($998.7 million), the two companies said in a
statement Friday.
The sale of Towarzystwo Ubezpieczen i Reasekuracji Warta SA will
increase KBC's core tier-1 ratio by "slightly less than 0.7%" and
significantly boost Talanx's market share in Poland, the companies
added.
-By Marynia Kruk, Dow Jones Newswires; +48 22 447-2431;
marynia.kruk@dowjones.com
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