INTERAMERICAN Pensions to merge with BANCPOST Pensions, the pension funds will merge too
INTERAMERICAN Pensions, the company managing Romania's 6th largest
mandatory private pension fund (2nd pillar pensions), will merge with
BANCPOST Pensions, which manages the 11th largest fund on the Romanian
mandatory private pensions market, sources from the market told
www.privatepensions.ro. The transaction will be announced today and
needs regulatory approval to begin official proceedings. After the
pensions companies will have merged, the two pension funds will merge
too. The absorbed entity will be BANCPOST Pensions and its fund.
This deal is the second one on the local pensions market, after the one between BCR and OMNIASIG (announced in September, but rejected until now by CSSPP, Romania's regulatory body in private pensions). INTERAMERICAN Pensions is part from the local operations of EUREKO Group, market leader in insurance and pensions in the Netherlands, while BANCPOST Pensions is controlled by BANCSPOST, a top10-size bank in Romania, part of the Greek EFG Eurobank Group.
The mandatory pension fund managed by INTERAMERICAN Pensions is 6th largest in terms of net assets under management (EUR 9.3m, market share of 4.91% at the end of November 2008) and 5th in terms of total number of participants (over 283,000 participants, market share of 6.34%). The fund managed by BANCPOST Pensions is 11th largest in both rankings, with over 25,000 participants (0.56% market share) and net assets of about EUR 1m (0.54%).
Besides the two deals already announced (BCR-OMNIASIG and INTERAMERICAN-BANCPOST), other 3 transactions are expected on the market within the following 1-2 years, possibly involving OTP Pensions, PRIMA PENSIE and KD Pensions, the smallest players on the local mandatory pensions market.
The most recent stories on this subject:
» Romanian private pension funds' assets reach EUR 1.33bn
» OANCEA: Half of the mandatory funds' participants own less than EUR 130 in their personal accounts
» XPRIMM's private pensions market awards 2011: And the winners are...
» CSSPP: Full disclosure of investment portfolios of pension funds, twice a year
» Proposal of full tax break for voluntary pensions waits for Parliament's decision
» Compared to the previous months, December brought an extra 10 million in the accounts of Pillar II participants
» Guarantee Fund Act was passed by the Senate
» Mircea OANCEA: we need speed up contributions enlargement in spite of crossing tough times
» 2010: A year with investment results that exceeded expectations
» A peek into the investment strategies of the Romanian pension funds
Query failed: SELECT ac.ID_comentariu, ac.alias_utilizator, comentariu, DATE_FORMAT(ac.data, '%d.%m.%Y %H:%i') AS data_comentariu, ac.vizibil, u.nume, u.prenume FROM site_articole_comentarii ac
INNER JOIN 1asig.site_utilizatori u ON ac.ID_user = u.ID_user
WHERE ac.ID_articol = '214'
AND vizibil = 1
ORDER BY ac.data DESC