A short and sweet update from Vienna Insurance Group;
On November 21, 2023, Vienna Insurance Group (VIG) signed a purchase agreement to acquire 35% of the Hungarian holding company VIG Magyarország Befektetesi Zrt. signed, which are currently held by the Hungarian state holding company Corvinus. After completion of the transaction, VIG’s share in the holding company will increase from 55 to 90%, while Corvinus will retain a 10% stake. Subject to approval by the Hungarian National Bank, closing is expected at the end of November 2023.
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