FAS Allows Ingosstrakh toBuy 100% Stake in Yugoria

The Federal Antimonopoly Service (FAS) approved of Ingosstrakh’s petition to buy a 100% shareholding in Yugoria Insurance Company that has to go private in August, FAS Deputy Head of Financial Markets Control Department Irina Smirnova told Prime.

‘A petition placed by Ingosstrakh’s daughter company InVest-Polis will be approved in four days, too. Both companies are members of one group and face the same risks,’ she added.

Smirnova also noted no other applications for the purchase of Yugoria’s shares had been submitted to the FAS.

Under the Government of Khanty-Mansiysky Autonomous Region Yugra’s decision, a 100% stake in Yugoria will be privatized in one lot. The government set the opening bid at 5.2bn RUR earlier.

The auction was initially supposed to have taken place on June 9, but Khanty-Mansiysky Autonomous Region Yugra’s Public Property Management Department decided to put the event off till August 1.

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