Waberer’s Group buys out minority owner of Magyar Posta Biztosító

The information recalled that Waberer’s announced on July 8, 2024, that its 100 percent subsidiary, Gránit Biztosító Zrt., would acquire a majority, It acquires a 66.925 percent stake in Magyar Posta Biztosító Zrt. and Magyar Posta Életbiztosító Zrt. The transaction was closed on November 29, 2024.

Gránit Biztosító, exercising its purchase option stipulated in the cooperation framework agreement concluded with Magyar Posta within the framework of the transaction, will buy out the share package owned by Magyar Posta Zrt., the minority owner of Magyar Posta Biztosító Zrt., at the opening of the option period (November 30, 2025), and thus acquire a 100 percent ownership stake in Magyar Posta Biztosító Zrt. – it was announced.

The purchase of the minority stake package is financed by Gránit Biztosító from its own resources. The transaction will be closed after obtaining the necessary insurance supervisory permits.

The announcement quotes Zsolt Barna, President and CEO of Waberer’s International, as saying: the insurance companies acquired a year ago have achieved more favorable results than expected in the recent period, and the synergy opportunities planned for this year have also been exploited.

The 100 percent ownership stake ensures that the also The synergy effects with Gránit Biztosító Zrt., which offers non-life insurance products, should be fully exploited in the future – they indicated.

The shares of Waberer’s International Plc. are traded in the premium category of the BSE, and the paper closed at 5,400 forints on Thursday. The highest price of the shares in the past year was 5,820, and the lowest was 3,670 forints.