Oranta targets two Russian insurers

Oranta (SORN: N/R) said it is in talks to acquire a life and PNC insurer in Russia, Head of Oranta’s Supervisory Board Oleh Spilka said yesterday. According to him, the owners are ready to invest USD 80-100 mln into their development. If acquired, the companies will be included into IMG International Holding Company, which includes Kazakh BTA Bank-related insurance companies in Ukraine, Russia and Kazakhstan. Oleh Spilka also reiterated plans to place a 15% equity stake on the London, Frankfurt or Warsaw Stock Exchanges.