Slovenian Reinsurer Sava Re Placed On Watch Negative On Plan To Acquire Remaining 51% Participation In Maribor - S&P Global Ratings’ Credit Research

Slovenian Reinsurer Sava Re Placed On Watch Negative On Plan To Acquire Remaining 51% Participation In Maribor

Slovenian Reinsurer Sava Re Placed On Watch Negative On Plan To Acquire Remaining 51% Participation In Maribor - S&P Global Ratings’ Credit Research
Slovenian Reinsurer Sava Re Placed On Watch Negative On Plan To Acquire Remaining 51% Participation In Maribor
Published Dec 14, 2012
1633 words — Published Dec 14, 2012
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About This Report

  
Abstract:

On Dec. 11, 2012, Pozavarovalnica Sava, d.d., the parent and major operating entity of the Sava Re Group (Sava Re), agreed to pay €15 million to acquire a further 11.8% stake in its subsidiary Zavarovalnica Maribor (Maribor) from Nova KMB (NKBM). Pozavarovalnica Sava already owned 49% of Maribor, and has agreed to buy the remaining 39.2% stake in the company for €50 million after a €55 million capital increase planned for May 2013. The remaining stake has been temporarily bought by Pozavarovalnica Sava's major shareholder, Slovenska odškodninska družba (SOD). In our view, the planned rights issue carries some execution risk, and the acquisition could weaken our view of Sava Re's currently "adequate" capital adequacy, under our criteria. We are accordingly

  
Brief Excerpt:

RESEARCH Slovenian Reinsurer Sava Re Placed On Watch Negative On Plan To Acquire Remaining 51% Participation In Maribor Publication date: 14-Dec-2012 Primary Credit Analyst: Marco Sindaco, London (44) 20-7176-7095; Marco_Sindaco@standardandpoors.com...

  
Report Type:

Ratings Action

Ticker
624688Z@SV
Issuer
Sava Re
GICS
Reinsurance (40301050)
Sector
Global Issuers
Country
Slovenia
Region
Europe, Middle East, Africa
Format:
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MLA:
S&P Global Ratings’ Credit Research. "Slovenian Reinsurer Sava Re Placed On Watch Negative On Plan To Acquire Remaining 51% Participation In Maribor" Dec 14, 2012. Alacra Store. May 10, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Slovenian-Reinsurer-Sava-Re-Placed-On-Watch-Negative-On-Plan-To-Acquire-Remaining-51-Participation-In-Maribor-1049926>
  
APA:
S&P Global Ratings’ Credit Research. (). Slovenian Reinsurer Sava Re Placed On Watch Negative On Plan To Acquire Remaining 51% Participation In Maribor Dec 14, 2012. New York, NY: Alacra Store. Retrieved May 10, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Slovenian-Reinsurer-Sava-Re-Placed-On-Watch-Negative-On-Plan-To-Acquire-Remaining-51-Participation-In-Maribor-1049926>
  
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