Gothaer increases stake at Romanian subsidiary to 100 pc

The Gothaer German Group will increase the stake at its Romanian subsidiary from 82.3 per cent to 100 per cent, by taking over the shares from Constantin Toma and Efraim Naimer, both of whom own 8.85 percent of stock, the Romanian insurer reported. The transaction has reached the paperwork stage and is to be subject to the local authorities’ approvals. The parties agreed not to disclose further details on the transaction, a release of Gothaer Insurance Reinsurance reads. “We have made a firm commitment to the Romanian insurance market, we are here to build on a durable presence and sustainable operation through our investments and support to Gothaer Insurance Reinsurance,” Gothaer Group Financial Director Jürgen Meisch said, according to the release.

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