CROATIA: HANFA rejected Triglav's purchase over Raiffeisen's pension insurance company

19 March 2020 — Cosmin CONCEATU
In March 2020, The Croatian Financial Services Supervisory Agency (HANFA) rejected the issue of authorization to acquire a majority stake in the Croatian pension insurance company Raiffeisen Mirovinsko osiguravajuce drustvo by Triglav Group.

This was one of the conditions precedent for the validity of the agreement concluded in April 2018 between Triglav INT, holdinska druzba d.d., as the buyer, and Raiffeisen Bank Austria d.d., Zagreb as the seller.

The agreement involved Triglav purchasing the majority stake of the company, accounting for 75% of all shares of the company minus one share, Raiffeisen keeping the remaining 25% plus one share in the company.

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