Volga Resources Acquires German Insurer

LUXEMBOURG CITY, Luxembourg - Volga Resources SICAV-SIF S.A. (”Volga”), the Luxembourg-based investment fund, announces that it has agreed to acquire 54.1% of the share capital of SCHWARZMEER UND OSTSEE Versicherungs-Aktiengesellschaft (”Sovag”) from the Russian insurer Ingosstrakh. The transaction has already been cleared by BaFin, the German Federal Financial Supervisory Authority. It is however subject to obtaining certain other regulatory approvals, such as from the German Anti-Trust authority (Bundeskartellamt).

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