The group made the acquisition as a portfolio investment and will not have a say in the executive decisions of the insurer.

The transaction was signed on March 5 and is pending the approval of the Financial Supervision Authority (FSA).

Law firm bpv Grigorescu Ștefănică has advised Autonom International on the acquisition.

Autonom is the largest car rental company in Romania. It has national coverage – 46 locations in 33 cities – and a fleet of over 12,000 new cars. The company also offers car rental services in the main airports.