UNIQA acquires majority stake in ASTRA

VIENNA, Austria—UNIQA Group Austria is acquiring a majority stake in Romanian insurer ASTRA S.A., the Vienna-based insurance company said Thursday.

UNIQA will acquire an additional 23% of ASTRA from the previous majority stakeholder, Nova Trade. In doing so, UNIQA will secure a controlling interest of 50%, plus one share, UNIQA said in a statement.

The transaction is subject to approval by local authorities.

ASTRA has been operating in the Romanian market under the name ASTRA - UNIQA since mid-2005.