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Germany's Talanx to raise stake in Vietnam insurer PVI Holdings

Germany's Talanx to raise stake in Vietnam insurer PVI Holdings

Friday, April 20, 2018, 15:45 GMT+7

A unit of Germany’s Talanx AG is seeking to raise its stake in Vietnamese insurer PVI Holdings to 49 percent, PetroVietnam said on Friday, as the state-run oil and gas group seeks to divest from the insurance company.

PetroVietnam is seeking to sell the stake to unlisted HDI Global SE, it said in a statement, following a meeting between Talanx AG Deputy Chairman Christian Hinsch and Vietnam’s Deputy Prime Minister Vuong Dinh Hue in Hanoi on Thursday.

PetroVietnam currently has a 35 percent stake in PVI Holdings, while HDI Global holds 47 percent.

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