Hungarian OTP Bank’s subsidiaries have sold their stakes in Bulgarian insurers DSK Garancia and DSK Garancia Life to Groupama International, OTP said in a statement quoted by news agency Reuters.
The transactions are part of the closing of the sale of Garancia, the Hungarian insurance unit of OTP, to Groupama which is one of France’s top insurance companies.
“Along with the closing procedure of the Garancia transaction, further transactions related to the insurance firms of OTP Group will follow in the coming months when the required supervisory approvals will be obtained,” OTP said, without disclosing further details.
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