Carpatica Asig to be taken over by European strategic investor

Carpatica Asig shareholders signed on December 21, 2015, a Memorandum of Understanding with a European strategic investor, with exclusivity clause, a press release announced on Monday.

The timing of the transaction will be provided to the Financial Supervising Authority (ASF) in the near future, the officials of the insurer said.

“With a wide experience in the insurance field, the investor is interested in Carpatica Asig’s developing and strengthening on long-term,” the statement reads.

Carpatica Asig was in top ten largest insurers in Romania at the end of 2012, with a market share of 3.83 percent. In January 2014, businessman Ilie Carabulea, who owns Banca Carpatica and Carpatica Asig was arrested in a corruption case.

arrested in a corruption caseBanca CarpaticaCarpatica AsigEuropean strategic investorFinancial Supervising Authority (ASF)Ilie CarabuleaMemorandum of Understandingtop ten largest insurers in Romania
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