Coface: acquisition in Slovenia
(CercleFinance.com) - Coface announces the acquisition of 100% of the capital of SID - PKZ, the leader in credit insurance in Slovenia, with a high market share, a deal which contributes to its strategy of profitable growth in Central and Eastern Europe.
Created by SID Bank in 2005, SID - PKZ issued 14.3 million euros in gross premiums in 2018. This deal will have a neutral impact on Coface's solvency ratio. After the acquisition, the business will operate under the new brand Coface PKZ.
Xavier Durand, CEO of Coface said, “The acquisition of SID - PKZ marks the first external growth initiative of Coface in more than 10 years. It will reinforce our presence in this important part of the world and it is perfectly in line with the objectives of our Fit to Win strategic plan."
Copyright (c) 2019 CercleFinance.com. All rights reserved.
Created by SID Bank in 2005, SID - PKZ issued 14.3 million euros in gross premiums in 2018. This deal will have a neutral impact on Coface's solvency ratio. After the acquisition, the business will operate under the new brand Coface PKZ.
Xavier Durand, CEO of Coface said, “The acquisition of SID - PKZ marks the first external growth initiative of Coface in more than 10 years. It will reinforce our presence in this important part of the world and it is perfectly in line with the objectives of our Fit to Win strategic plan."
Copyright (c) 2019 CercleFinance.com. All rights reserved.