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Pozavarovalnica Sava 'BBB+' Ratings Remain On Watch Neg Pending Purchase Of Remaining Stake In Maribor From SOD

Published Mar 15, 2013

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Abstract:

On Dec. 11, 2012, Slovenia-based composite insurer Pozavarovalnica Sava d.d. agreed to buy a further 51% stake in its 49% controlled subsidiary Zavarovalnica Maribor (Maribor) from Nova KBM (NKBM). Pozavarovalnica Sava has bought a 11.8% stake in Maribor directly from NKBM for €15 million. Meanwhile, its major shareholder, Slovenska odškodninska družba (SOD), agreed to buy the remaining 39.2% of Maribor from NKBM for €50 million and hold on to it until Pozavarovalnica Sava raises €55 million through a rights issue due to be completed in June 2013. That said, SOD has the right to sell the whole of the group's combined 100% stake in Maribor, should Sava Re fail to buy SOD's 39.2% before the end of September 2013. The

Report Type:

Ratings Action

Ticker

624688Z@SV

Issuer

Sava Re

GICS

Reinsurance (40301050)

Sector

Global Issuers

Country

Slovenia

Region

Europe, Middle East, Africa

Format:

HTML

Research Update: Pozavarovalnica Sava Ratings Off Watch And Affirmed At 'BBB+' After Capital Increase And Insurance Criteria Change – 2013/07/04 – US$ 225.00

Slovenian Reinsurer And Holding Company Pozavarovalnica Sava 'BBB+' Ratings Affirmed; Outlook Stable – 2014/07/21 – US$ 150.00

Research Update: Slovenian Reinsurer And Holding Company Pozavarovalnica Sava 'BBB+' Ratings Affirmed; Outlook Stable – 2014/07/21 – US$ 225.00

Pozavarovalnica Sava d.d. – 2014/10/01 – US$ 500.00

Summary: Pozavarovalnica Sava d.d. – 2014/10/01 – US$ 225.00

Research Update: Pozavarovalnica Sava 'BBB+' Ratings Remain On Watch Neg Pending Purchase Of Remaining Stake In Maribor From SOD – 2013/03/15 – US$ 225.00

Slovenian Reinsurer Sava Re Placed On Watch Negative On Plan To Acquire Remaining 51% Participation In Maribor – 2012/12/14 – US$ 150.00

Research Update: Slovenian Reinsurer Sava Re Placed On Watch Negative On Plan To Acquire Remaining 51% Participation In Maribor – 2012/12/14 – US$ 225.00

Pozavarovalnica Sava d.d. – 2012/11/08 – US$ 500.00

Summary: Pozavarovalnica Sava d.d. – 2012/11/08 – US$ 225.00

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Pozavarovalnica Sava 'BBB+' Ratings Remain On Watch Neg Pending Purchase Of Remaining Stake In Maribor From SOD" Mar 15, 2013. Alacra Store. May 10, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Pozavarovalnica-Sava-BBB-Ratings-Remain-On-Watch-Neg-Pending-Purchase-Of-Remaining-Stake-In-Maribor-From-SOD-1095406>

APA:	S&P Global Ratings’ Credit Research. (). Pozavarovalnica Sava 'BBB+' Ratings Remain On Watch Neg Pending Purchase Of Remaining Stake In Maribor From SOD Mar 15, 2013. New York, NY: Alacra Store. Retrieved May 10, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Pozavarovalnica-Sava-BBB-Ratings-Remain-On-Watch-Neg-Pending-Purchase-Of-Remaining-Stake-In-Maribor-From-SOD-1095406>

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