We advised one of the leading insurers in Europe, Vienna Insurance Group (VIG), on the purchase of the remaining 9.17% shares in BTA Baltic Insurance Company (BTA). This means that VIG has become the only shareholder in BTA.
Seeing the positive tendencies and perspectives in the Baltic insurance market, VIG decided to acquire 100% of BTA shares in order to strengthen its position.
Vienna Insurance Group (Wiener Versicherung Gruppe) is the leading insurance group in Austria and Central and Eastern Europe (CEE). Around 50 insurance companies in 30 countries form a Group with a long-standing tradition, strong brands and close customer relations.
BTA Baltic Insurance Company is one of the leading insurance companies in the Baltics, offering the broadest range of non-life insurance services in Latvia, Lithuania and Estonia. BTA employs more than 1,000 employees in the Baltics. The largest shareholder in BTA is Vienna Insurance Group AG with close to 200 years of experience in the insurance business.
Client was advised by Sorainen Latvija country managing partner Eva Berlaus and senior associates Zanda Frišfelde and Zane Paeglīte.