Allianz’s EUR 2.5 Billion Acquisition of Aviva Poland

Greenberg Traurig and Sorainen advised Allianz on the deal, while Rymarz Zdort advised Santander Bank Polska.

Allianz announced the completion of the acquisition of Aviva’s operations in Poland and Lithuania for over EUR 2.5 billion. It is Allianz’s largest deal globally in a decade. 

The transaction involves Aviva’s life and non-life insurance operations as well as its pension and asset management businesses. Allianz has also agreed to acquire a 51 percent stake in each of Aviva’s life and non-life bancassurance joint ventures with Santander Bank Polska. The transaction also includes Aviva’s operations in Lithuania.

The transaction was supervised by Senior Partner Lejb Fogelman (Picture) who provided strategic advice to the client. Partner Stephen Horvath led the transaction team together with Partner Lukasz Pawlak and Local Partners Maciej Pietrzak and Michal Bobrzynski. Closing of the transaction was coordinated by Associate Agata Izyk and supported by Associate Maciej Jablonski, Associate Dawid Malinowski and Senior Associate Joanna Kuc. Associates Michal Baldowski, Adam Andula and Maciej Jablonski provided support in the process of obtaining approvals for the Transaction from the Polish Financial Supervision Authority. Partner Robert Gago, Associate Filip Drgas, Associate Marta Kownacka and Senior Associate Anna Celejewska-Rajchert were responsible for competition law matters related to the transaction, including the clearance for the transaction from the European Commission. Partner Anna Halas-Krawczyk, Senior Associate Natalia Wolkowycka, Associate Angelika Makar and Associate Marta Poplawska were responsible for employment matters. The tax team included London Partner Graham Iversen who was supported by London Associate Kathryn Jones with respect to English tax law advice and Local Partner Maciej Kacymirow with respect to Polish tax advice. The team was supported by Of Counsel Prof. Adam Opalski.

Allianz’s in house legal team was led by Dr. Alexander Franz, Senior Legal Counsel, and Dr. Daniel Günther, Regional Head of Legal and Compliance for Central and Eastern Europe.

The Sorainen team was led by senior associates Vitalija Impoleviciene, Agne Sovaite and Inga Macijauskaite, as well as partners Tomas Kontautas and Mantas Petkevicius. The team also included counsel Monika Mališauskaite-Vaupšiene; senior associates Indre Peledaite and Aurelija Daubaraite; associate Simona Timbariene.

The Rymarz Zdort team was led by partner Jacek Zawadzki, and included Dr hab. Lukasz Gasinski. The transaction team includes associates Marzena Iskierka, Anna Aranowska and Aleksander Jakubisiak.

Involved fees earner: Adam Andu?a – Greenberg Traurig LLP; Micha? Ba?dowski – Greenberg Traurig LLP; Micha? Bobrzy?ski – Greenberg Traurig LLP; Anna Celejewska-Rajchert – Greenberg Traurig LLP; Filip Drgas – Greenberg Traurig LLP; Lejb Fogelman – Greenberg Traurig LLP; Robert Gago – Greenberg Traurig LLP; Anna Ha?as-Krawczyk – Greenberg Traurig LLP; Stephen Horvath – Greenberg Traurig LLP; Graham Iversen – Greenberg Traurig LLP; Agata I?yk – Greenberg Traurig LLP; Maciej Jab?o?ski – Greenberg Traurig LLP; Kathryn Jones – Greenberg Traurig LLP; Maciej Kacymirow – Greenberg Traurig LLP; Marta Kownacka – Greenberg Traurig LLP; Joanna Kuc – Greenberg Traurig LLP; Angelika Makar – Greenberg Traurig LLP; Dawid Daniel Malinowski – Greenberg Traurig LLP; Adam Opalski – Greenberg Traurig LLP; ?ukasz Pawlak – Greenberg Traurig LLP; Maciej Pietrzak – Greenberg Traurig LLP; Marta Poplawska – Greenberg Traurig LLP; Natalia Wo?kowycka – Greenberg Traurig LLP; Anna Aranowska – Rymarz Zdort; Lukasz Gasinski – Rymarz Zdort; Marzena Iskierka – Rymarz Zdort; Aleksander Jakubisiak – Rymarz Zdort; Jacek Zawadzki – Rymarz Zdort; Aurelija Daubaraite – Sorainen; Vitalija Impoleviciene – Sorainen; Tomas Kontautas – Sorainen; Inga Macijauskaite – Sorainen; Monika Malisauskaite-Vaupsiene – Sorainen; Indr? Pel?dait? – Sorainen; Mantas Petkevicius – Sorainen; Agne Sovaite – Sorainen; Simona Timbarien? – Sorainen;

Law Firms: Greenberg Traurig LLP; Rymarz Zdort; Sorainen;

Clients: Allianz; Santander Bank Polska S.A.;

Martina Bellini

Author: Martina Bellini