780 agree to sell Middlesea shares to Mapfre

780 small shareholders in Middlesea Insurance have decided to sell their shares to Mapfre Internacional, the new majority shareholder of MSI. The company explained in a report to the stock exchange today that Mapfre acquired a controlling interest in...

780 small shareholders in Middlesea Insurance have decided to sell their shares to Mapfre Internacional, the new majority shareholder of MSI.

The company explained in a report to the stock exchange today that Mapfre acquired a controlling interest in Middlesea in July when it bought the shares then held by Munich Re. Upon becoming majority shareholder, in line with listing rules, it issued a mandatory bid to the other shareholders in August. The offer closed on September 26.

A total of 780 shareholders, equivalent to 3.58% of total shareholding, accepted the bid and opted to sell to Mapfre. 14.36% of MSI shares are still held by the public.

Mapre now holds a shareholding of 54.56% in MSI. Bank of Valletta, the other big shareholder, has 31.08%.

Sign up to our free newsletters

Get the best updates straight to your inbox:

You can unsubscribe at any time by clicking the link in the footer of our emails. We use Mailchimp as our marketing platform. By subscribing, you acknowledge that your information will be transferred to Mailchimp for processing.