Astra’s shareholders agree EUR 109 M share capital increase

Romanian insurance company Astra’s shareholders recently approved a EUR 109 million share capital increase, which will be done in several stages within a year, according to its special administrator KPMG. The first tranche of the share capital increase will be of some EUR 15.5 million. This is one of the measures included in the activity relaunch and financial restructuring plan for Astra, which was placed under special administration in March this year. The company’s shareholders also decided to name Deloitte the new auditor for Astra. Earlier this year, Financial Supervisory Authority (ASF) decided to suspend the shareholders and the management of Astra, in order to help the firm recover financially.

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