CMS advises Generali on the acquisition of Concordia Ubezpieczenia

CMS is advising Generali, one of the world’s largest insurance groups, on the acquisition of entities from the Concordia Ubezpieczenia group. Under the concluded preliminary agreements, the Generali Group (through Generali CEE Holding B.V. and Generali Życie Towarzystwo Ubezpieczeń S.A.) intends to take full control over Concordia Capital SA, a Polish insurance company that offers life insurance, and Concordia Polska TUW, which offers non-life insurance. The closure of the transaction depends on obtaining the consent of the Office of Competition and Consumer Protection and the Polish Financial Supervision Authority.

The work of the CMS office on this project included transaction and regulatory consultancy, starting from the due diligence stage, through negotiations, to the conclusion of the preliminary agreements on the acquisition of majority stakes in both Concordia group companies. The CMS team was led by Julita Mazurkiewicz, advocate and senior associate, with the support of Grzegorz Pączek, advocate and senior associate, from the CMS transaction team. Ewa Świderska, legal advisor and leader of the insurance team, was responsible for the regulatory part of the project. Partner supervision was provided by Marek Sawicki, partner in charge of the CMS transaction team, and Małgorzata Surdek, managing partner of CMS in Poland, who has many years’ experience in providing advisory services to companies from the insurance sector.