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Nova Kreditna Offers to Buy Rest of Zavarovalnica Maribor

Nova Kreditna Banka Maribor d.d. said it wants to buy the rest of Zavarovalnica Maribor d.d., Slovenia’s second-largest insurance company, according to a statement to the bourse today. Nova Kreditna now owns just below 50 percent of the insurer.

Pozavarovalnica Sava d.d., the second-largest investor in Zavarovalnica Maribor with a 45.8 percent holding, said in a separate statement that it won’t accept the offer.

Nova Kreditna shares continued to hover at the lowest level since the initial public offering in December 2007. The stock fell 13 eurocents, or 1.7 percent, to close at 7.27 euros. Sava Re was unchanged at 6.80 euros on the Ljubljana stock exchange.

-- Editors: Douglas Lytle, James M. Gomez

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