Rymarz Zdort is advising Santander Bank Polska on the sale of its minority stakes in Aviva Towarzystwo Ubezpieczeń na Życie, Aviva Towarzystwo Ubezpieczeń Ogólnych and Aviva Powszechne Towarzystwo Emerytalne Aviva Santander. The transaction is part of Aviva plc’s planned exit from Poland by way of the sale of all of its Polish operations to Allianz for approximately EUR 2.5 billion. The deal comprises the largest on the Polish insurance market to date and the largest M&A transaction in Poland so far this year.
As a result of the transaction, Allianz will also become Santander Bank Polska’s new partner in respect of its life and non-life bancassurance joint ventures.
The transaction is subject to regulatory approvals and is expected to be completed within 12 months.
The work of the team advising on the transaction was led by Dr hab. Łukasz Gasiński, a corporate partner and the head of the regulatory practice of Rymarz Zdort, and Jacek Zawadzki, a partner in the corporate department, who were supported by associates Marzena Iskierka and Aleksander Jakubisiak.