FinMin Tsakalotos urges Ergo to maintain jobs, create new ones, after ATE Insurance acquisition
- Written by E.Tsiliopoulos
Finance Minister Euclid Tsakalotos said Munich Re's insurance subsidiary Ergo, which completed the acquisition of Greece’s ATE Insurance on Tuesday, must prove in practice that the move will ensure existing jobs and create new ones.
The minister was speaking during a meeting on Wednesday with representatives of ATE employee’s union to discuss the acquisition, the finance ministry said in a press release.
Ergo bought ATE Insurance from Piraeus Bank for 90.1 million euros, subject to net asset value adjustments. The sale had been announced by Piraeus Bank in 2014.
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