Sorainen advised insurance broker company Aon Baltic in acquiring 100% shares in Balto Link. This is the largest acquisition deal in the Baltic brokerage business in recent years. The acquisition was completed on 28 December 2017. Total value is not disclosed.
Aon Baltic is the biggest insurance broker company operating in Estonia, Latvia and Lithuania. The company belongs to the Aon Group, operating in 120 countries world-wide and with 50,000 employees.
Balto Link is one of the leading insurance broking companies in the Baltics, specializing in providing services to corporate clients and in e-commerce with insurance products.
Comments Žilvinas Petrauskas, CEO of Aon Baltic: “After this acquisition we are planning to increase investment in technologies, which will help to service our clients and to attract new talents in the most effective way. Moreover, with e-commerce platforms development we are planning to strengthen sales to private clients in all Baltic States.”
The Sorainen team in the transaction was led by partner Tomas Kontautas and included partner Sergej Butov, counsel Mantas Petkevičius, senior associates Dalia Augaitė and Deimantė Pagirienė, associates Artur Drapeko, Indrė Pelėdaitė and Laura Ryzgelytė in Lithuania, senior associate Renâte Purvinska in Latvia and senior associate Juulika Aavik in Estonia. Sorainen advised the client in cooperation with international law firm DLA Piper.