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Merger on the insurance market: Ardaf - Roumanie Assurance International

Vineri, 2 martie 2007, 0:00

Two major insurance companies, Ardaf and RAI (part of the Czech PFP Investments fund) prepare to merge this year. The announcement was made on Thursday, after the majority stake at Ardaf was bought by PPF Investments.

Ardaf CEO, Daniel Tudor, declared for that the merger is designed to lead to a larger market share. After the Ardaf takeover announcement, the company's shares on the stock exchange grew 17%.

After the transaction, PPF Investments came to control, some 70% of the Ardaf Cluj-Napoca shares, 20% of the Romexterra Bank shares and continues to run the RAI insurance company.

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