CMS Prague has advised the Slovenian insurance company Triglav INT, which is fully owned by Zavarovalnica Triglav, on the sale of its Czech subsidiary Triglav pojišťovna, a.s. to VIGO Finance, part of VIGO Investments Group.
Triglav pojišt'ovna, is a non-life insurance company in the Czech Republic and was one of the nine insurance or reinsurance subsidiaries of the Triglav Group, one the largest insurance and financial groups in South-Eastern Europe. Triglav reached an agreement with VIGO regarding the sale of its Czech subsidiary in October last year. The sale was approved by the Czech National Bank in May and reached closing on 4 June.
The CMS team advising Triglav was led by corporate partner Patrik Przyhoda and further comprised senior associate Radim Kotlaba and junior associate Pavel Drimal.
The transaction reaffirms CMS’ leading position in corporate transactions in the financial services sector. In the last 12 months CMS Prague advised on the sale of LBBW Czech Republic to Expobank as well as on the sale of mBank’s factoring company Transfinance to UniCredit.