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Penta Group dismisses concern over SP buy

The financial arbitrage house Penta Group August 22 subscribed the entire 504 million crown ($10.4 million) offer in a second round capital increase at state insurer Slovenská poisťovňa, thereby raising its stake in the firm to 20.22%.

Management at the firm said that they did not intend to profit "unduly" from later selling their 20.22% SP stake. Penta has agreed with the state that it will sell its stake to an investor conjointly with the state's privatisation of its 67% share in SP.

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