TRIGLAV Group to Acquire the Slovene Asset Management Company ALTA Skladi
The agreement was made under suspensive conditions, among others the condition that the approval of the regulators is required. The purchase price excluding adjustment for net debt is EUR 21.7 million, a part of which is contingent on future payments made into the funds of the acquiree. The acquisition is consistent with the strategic guideline of the TRIGLAV Group to continue to strengthen its asset management business up to 2020 because in addition to insurance, asset management is one of two key business pillars of the leading insurance/financial group in Slovenia and the Adria region. Integration of both asset management companies within the TRIGLAV Group represents a strong guarantee for their clients to be provided asset management services of the highest quality also in the future.
With a market share of almost 10%, ALTA Skladi is the fifth largest asset management company on the Slovene mutual funds market. In 22 mutual funds, it manages over EUR 270 million in assets on behalf of its clients. The TRIGLAV Group has a long tradition and rich experience in the Slovene mutual funds market. Through its subsidiary TRIGLAV Skladi, the Group has been active on the Slovene market since 1994, where it currently ranks second with a 26% market share. In its 17 mutual and individual funds, it effectively manages more than EUR 750 million in assets on behalf of its clients by providing them a wide range of investment opportunities and forms of saving.
The acquisition of ALTA Skladi is an important step towards developing the TRIGLAV Group's asset management business. In this way, the Group will not only increase the volume of assets under management but also acquire new clients, to whom it will be able to offer quality and comprehensive products and services. The planned synergistic effects resulting from the integration of both asset managers within the Group will be a solid basis for further effective development.