CMS Bureau Francis Lefebvre advised AXA on the conclusion of an agreement with Vienna Insurance Group to sell its life insurance, savings and pension activities in Hungary, although AXA will continue its banking activities in the country.
The parties made a mutual commitment not to disclose the terms of the agreement.
Finalisation of the transaction is subject to obtaining the relevant regulatory authorisations.
AXA was advised on the transaction by CMS Bureau Francis Lefebvre with Jean-Robert Bousquet,partner and Alexandre Morel covering corporate aspects and Edouard Milhac,partner tax aspects, in collaboration with CMS Cameron McKenna LLP in Hungary with Aniko Kircsi and Ivan Sefer (partners) dealing with corporate and regulatory aspects.
Vienna Insurance Group was advised by Oppenheim LLP with József Fenyvesi and Ivan Bartal (partners) providing assistance with corporate and regulatory aspects.
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