Linklaters advised Talanx group and its Japanese partner, Meiji Yasuda Ubezpieczenia na Życie, on its acquisition of Europa Group from Getin Holding. The deal, one of the largest acquisitions in the Polish insurance sector, is subject to regulatory approvals with completion expected by mid-2012.
Talanx is the third largest insurance company in Germany, and the 11th largest in Europe. Talanx group’s operations span 150 countries worldwide while its presence in Poland is led through two companies offering insurance services – HDI Asekuracja TU S.A. and HDI-Gerling Życie TU S.A. Upon completion of the transaction, Talanx will become one of the largest insurance groups in Poland. The Europa Group includes TU Europa S.A. and TU na Życie Europa S.A. and is a leader in the Polish bancassurance market.
The acquisition is structured in the form of a public tender offer to purchase 100 per cent of the target’s shares. The transaction is viewed as part of a long-term strategic collaboration between Talanx, Meiji Yasuda Ubezpieczenia na Życie and Getin Holding S.A. groups in the area of bancassurance in Poland and in Central and Eastern Europe. Following completion of the transaction, Talanx will become the main shareholder of the Europa Group.
The Linklaters team was led by Karolina Czernicka-Kuhl, corporate managing associate, and supervised by Cezary Wiśniewski, corporate partner in Warsaw. They were assisted by a team of lawyers specialising in commercial law, capital markets, competition law and insurance sector regulations.
Karolina Czernicka-Kuhl said:
“This was a complex transaction, both in terms of structure and regulatory requirements. It demanded very efficient collaboration between lawyers from various practice areas, in order to provide the client with seamless advice in multiple areas of law. Despite tight deadlines and a large number of entities involved, the team successfully finalised the complex transactional and contractual package.”
ENDS
For further information, please contact: Małgorzata Dezor-Tomaszewska on +48 22 526 5051 or Rupert Winlaw on + 44 20 7456 3219
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