On 30 June 2014 PZU acquired all the requisite consents and approvals and closed the transaction to acquire the shares of AAS Balta, the Latvian insurance market leader. This means that one of the important stages of PZU’s acquisition of RSA’s assets in the Baltic States and Poland has been brought to a close. This is yet another step in the international expansion of Poland’s largest insurer.
The agreement of 17 April 2014 anticipates that PZU SA will also acquire from RSA Link4 Towarzystwo Ubezpieczeń S.A., the leader of Poland’s direct insurance market, Lietuvos Draudimas AB, the Lithuanian market leader and Codan Forsikring A/S, the company’s Estonian branch. The acquisition of the other companies depends on obtaining consents and approvals from market regulators where the acquired companies operate as well as from the competent antimonopoly authorities.
The total value of the acquisition of RSA’s companies operating in the Baltic States and Poland is approximately 360 million EUR. PZU’s international expansion is one of the key elements of the Group’s strategy.
dostarczył infoWire.pl
