HDI Global SE becomes PVI's largest shareholder
German insurance corporation HDI Global SE bought another 9.2 million shares of PetroVietnam Finance and Insurance Company (PVI), becoming the company's largest shareholder with 37.63 per cent of stake.
 |
| Head quarter of PetroVietnam Finance and Insurance Company (PVI) in Ha Noi. — Photo f319.com |
According to the Ha Noi Stock Exchange, the transaction was made between February 18 and 29 under negotiation. After the transaction worth more than VND230 billion (US$10.2 million), Global HDI SE owns more than 83.7 million shares of PVI.
After the deal, the Vietnam Oil and Gas Group (PVN) which owns 36.85 per cent of the stake became the second largest shareholder of PVI.
As one of the leading insurance companies in Viet Nam, last year PVI reported a revenue of VND980 billion and after tax profits of VND530 billion, an increase of 36 per cent and 217 per cent over 2014 respectively. — VNS
