Buyer Withdraws from Deal for Pension Fund Doverie

Buyer Withdraws from Deal for Pension Fund Doverie

The Vienna Insurance Group (VIG) said the potential buyer for its stake in Bulgarian pension fund Doverie has withdrawn from the deal.
"Thus, VIG will continue to be the majority shareholder of Doverie," VIG spokesperson Alexander Jedlicka told SeeNews.
In July, VIG said it had concluded the negotiations on the sale of its indirect holding of more than 92% in Doverie, Bulgaria's biggest pension insurer, to UK-based United Capital.
In August, United Capital said it had signed a final agreement with VIG on the acquisition of the Doverie stake, adding that the transaction will be financed by its shareholders. The deal had raised public concern as information about the buyer is scarce.
Doverie had total assets of 1.99 billion levs ($1.4 billion/1.02 billion euro) under management by September 30.
Cookies Preferences
Choose Type of Cookies You Accept Using


These cookies are required for the website to run and cannot be switched off. Such cookie are only set in response to actions made by you such as language, currency, login session, privacy preferences. You can set your browser to block these cookies but our site may not work then.


These cookies allow us to measure visitors traffic and see traffic sources by collecting information in data sets. They also help us understand which products and actions are more popular than others.


These cookies are usually set by our marketing and advertising partners. They may be used by them to build a profile of your interest and later show you relevant ads. If you do not allow these cookies you will not experience targeted ads for your interests.