CMS Bureau Francis Lefebvre advised AXA on the signing of an agreement with Vienna Insurance Group relating to the sale of its Life and Savings insurance operations in Romania and its exit from the Romanian market. According to this agreement, Vienna Insurance Group would acquire 100% of AXA Life Insurance SA through its BCR Life and Omniasig entities.
The parties jointly committed not to disclose the terms and conditions of the agreement.
Completion of the transaction is subject to customary conditions, especially the delivery of the regulatory approvals.
For this transaction, AXA was advised by CMS Bureau Francis Lefebvre notably with Jean-Robert Bousquet (partner), Alexandre Morel (counsel) and Célia Mayran for the corporate aspects, Edouard Milhac (partner) for taxation, in association with CMS Cameron McKenna LLP in Romania with Horea Popescu (partner), Claudia Popescu, Raluca Ionescu and Christina Reichman for the Romanian law corporate and regulatory aspects.
Vienna Insurance Group was advised by Schoenherr si Asociatii SCA notably with Markus Piuk and Monica Cojocaru (partners) on corporate and regulatory aspects.