A member of the Supervisory Board of the insurance company AXA MBASK Eldar Garibov sold a 8.39% stake in the company to another co-owner. Thus, the company AXA Seguros Generales, SA, De Seguros Y Reaseguros (Spain) became the sole owner of AXA MBASK.
The Head of Marketing and Public Relations Rashid Rasulov confirmed the fact of conclusion of insider transactions between the parties.
BSE is not informed about this important event in the stock market.
AXA Group has entered the ranks of the shareholders of MBASK Insurance Company in October 2010. It gained control over the company by buying 51% of its shares. In November of the same year, the license was updated into AXA MBASK in connection with the change of the company’s name.
In January of this year, the company implemented a share issue in the amount of 2.5 million manats and brought the share capital to 16 million 733.5 thousand manats.
Eldar Garibov is also chairman of the Supervisory Board of Uni Bank. He owns a 68.33% stake in the bank. -- 08D-
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