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.
1. Sep 2001 at 0:00 | From press reports of TASR and SITA