OREANDA-NEWS. On July 17, 2008 SCM Group has completed acquisition of 15%-shareholding in ASKA Insurance. The stock was bought by SCM FINANCE Limited (Cyprus) that is fully owned by SCM Group and controls shareholding of financial assets of SCM Group, reported the press-centre of SCM Group.

As a result, SCM FINANCE Limited concentrated 88.70% of shares of UASK ASKA.

SCM Group regards financial business as a strategic area for investment. SCM is dedicated to continue investing in development of its financial institutions including insurance companies (SCM Group controls UASK ASKA-Life as well) in line with the approved strategy. The strategy provides for extension of operations geography, raising quality of services, modernization and development of information and technical base, as well as winning a stable position in Ukraine's Top-5 most successful insurance institutions.

The parties agreed not to disclose details of the deal including information about the seller.