UNIQA Insurance Group AG (UNIQA Group) is to sell its approximately 29% interest in Medial Beteiligungs-GmbH (Medial), which in turn has an approximately 38% stake in Casinos Austria AG, to Novomatic AG. UNIQA’s interest in Medial thus equates to an 11.4% interest in Casinos Austria AG.
On 28 July 2015, the Management Board of UNIQA Group resolved to accept an offer from Novomatic AG to acquire UNIQA Group’s entire stake in Medial, subject to the approval of the Supervisory Board. The sale is subject to the approvals required under legislation governing business combinations and under company law. The parties have agreed not to disclose the purchase price.
As part of its UNIQA 2.0 strategy programme introduced in 2011, UNIQA Group is concentrating on its core insurance business in the core markets of Austria and Central and Eastern Europe. In connection with this, since 2011 UNIQA Group has already sold its equity interests in the German Mannheimer Group and in Medicur-Holding Gesellschaft m.b.H., in which various media investments were bundled, and its hotel investments. Meanwhile, UNIQA Group has strengthened its core insurance business since 2011, including by increasing its indirect interest in four private clinics in Austria to 100%, by acquiring minority interests in foreign Group companies and by purchasing two insurance companies in Croatia and Serbia from Baloise (Switzerland) in 2014.
Disclaimer regarding forward looking statements
To the extent that this announcement contains forward looking statements, such statements are assumptions based on all information presently available to UNIQA. If the assumed circumstances do not occur, the actual future events may differ from the forward looking statements in relation to future developments of UNIQA. Therefore, we cannot accept any liability for such statements.