Our client Allianz SE, Europe’s largest insurer, has agreed to acquire life and non-life insurance operations, as well as the pension and asset management business, in Poland and Lithuania from Aviva Group (which includes its Lithuanian subsidiary Aviva Lithuania). The total value of the transaction is EUR 2.7 billion.
Allianz is set to become number two in Central and Eastern Europe in terms of operating profit, and the region is well on track to become another flagship for the Allianz Group. Subject to required regulatory approvals, the transaction is expected to be completed within the next twelve months.
Our team and services
Our services included assistance with all Lithuanian law matters related to the acquisition of Aviva operations, including conducting legal due diligence on the Lithuanian business, participation in expert sessions and advising on regulatory matters.
Our project team was led by senior associates Agnė Sovaitė and Inga Macijauskaitė, and partners Tomas Kontautas and Mantas Petkevičius. The team also included senior associates Indrė Pelėdaitė, Aurelija Daubaraitė and Monika Mališauskaitė-Vaupšienė; associate Simona Vaicekauskaitė; and others.