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Sava Re completes purchase of Macedonian pension fund

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Sava Re completes purchase of Macedonian pension fund

Pozavarovalnica Sava dd finalized the acquisition of a 100% stake in Macedonian pension fund NLB Nov Penziski fond AD Skopje, the Slovenian insurer said March 13.

The company purchased 21,200 shares of the pension fund from Nova Ljubljanska banka dd and NLB Banka AD Skopje on the Macedonian Stock Exchange after securing all necessary regulatory approvals.

The Slovenian insurer said the acquisition, announced in December 2017, is in line with its strategy to expand pension insurance operations and strengthen its position in the Western Balkans.