24.11.2011 |
The UNIQA Group is planning to sell all its shares in the publicly listed Mannheimer AG Holding to the insurance group "Die Continentale". A fundamental agreement regarding the sale was signed on 23 November 2011.
According to this agreement, UNIQA will sell the 57,833,320 registered shares (91.7% of the share capital) in Mannheimer AG Holding to "Die Continentale", pending the necessary regulatory approvals. The shares in Mannheimer AG Holding are listed on the Frankfurt Stock Exchange, among others. The sale price is not being disclosed.
The sale of the investment in Mannheimer is fully in line with the restructuring plans for the UNIQA Group announced at the end of May. According to these plans, the UNIQA Group will focus its international business clearly on the high growth potential of Eastern Europe in the future. The profit forecast for the UNIQA Group for 2011 remains unaffected by the sale of Mannheimer.
Mannheimer
To secure its original investment of roughly 20%, the UNIQA Group decided in summer 2004 to purchase a majority in Mannheimer as part of a capitalisation and restructuring concept. In the course of a capital increase with the exclusion of pre-emptive rights, UNIQA acquired a stake of roughly 87%, which was raised to 92% in subsequent years.
The Mannheimer group currently consists of the parent company Mannheimer AG Holding and three operational insurance subsidiaries: Mannheimer Versicherung AG (property insurance), Mannheimer Krankenversicherung AG (health insurance) and mamax Lebensversicherung AG (life insurance). In total, the group employs roughly 840 employees and manages approximately 835,000 insurance policies. The group's premium volume written reached €411.9 million in 2010.
Reservations concerning statements about the future
This message contains statements that refer to future developments in the UNIQA Group Austria. These statements are appraisals that are made based on all information available to us at the current point in time. If the assumptions on which they are based do not occur, the actual events may vary from the results currently expected. For this reason, we cannot accept liability for these statements.
Vienna, 24. November 2011