COBALT assisted Aviva in the successful closing of the sale of Aviva Poland and Lithuania to Allianz

COBALT assisted Aviva in the successful closing, on 30 November 2021, of one of the largest regional deals of the year: the sale of its entire shareholding in Aviva Poland, with the Lithuanian subsidiary, to Allianz, the largest insurance company in Europe, with the value of €2.7 billion. We provided local advice on transactional and regulatory matters in respect of the Lithuanian subsidiary of Aviva Poland.

The transaction is Allianz’s largest deal globally in a decade. It involves Aviva’s life and non-life insurance operations as well as its pension and asset management businesses. Under the transaction, Allianz had also agreed to acquire 51 percent stake each in Aviva’s life and non-life bancassurance joint ventures with Santander Bank Polska. The transaction also includes Aviva’s Life operations in Lithuania.

The team is led by partner Juozas Rimas, partner Akvilė Bosaitė and managing associate Deimantė Pagirienė.