Coface acquired credit issuer in Slovenia
Coface has acquired SID-PKZ, which is a leading credit insurance in Slovenia, has concluded the acquisition of shares of the credit insurance subsidiary of Slovenia’s SID Bank. The deal will result in the company being renamed Coface PKZ, with Coface planning additional investments to further strengthen its position in the Baltics. Xavier Durand, CEO of Coface said the deal with the insurers owner, SID Bank, was the company's first "external growth initiative" in the past decade. The deal still faces the approval process from market regulators.