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Allen & Overy and Kinstellar Advise on Aegon's Divestment of Insurance Businesses in Czech Republic and Slovakia

Allen & Overy and Kinstellar Advise on Aegon's Divestment of Insurance Businesses in Czech Republic and Slovakia

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Allen & Overy has advised Aegon on the divestment of its insurance businesses in the Czech Republic and Slovakia for EUR 155 million to the NN Group. The buyer was advised by Kinstellar.

Aegon’s businesses in the Czech Republic and Slovakia predominantly provides unit-linked products, in addition to offering term life products and a wide range of riders, as well as pension services in Slovakia.

The transaction is subject to customary regulatory approvals as well as merger clearance, and is expected to close in the first quarter of 2019.

The Allen & Overy team was led by Partner Prokop Verner, assisted by Associate Jakub Cech and Junior Lawyer Tomas Kirner on regulatory matters. Partner Martin Magal and Senior Associate Tomas Bury advised on the Slovak aspects of the transaction, with Senior Associate Peter Jedinak providing specialist regulatory advice, while tax advisor Michal Dusek advised on the transactional tax aspects of the disposal. English law advice was provided by A&O Consultant Hugh Owen.

Kinstellar's Prague-based team was led by Counsel Karla Rundtova and Partner Lukas Sevcik. Other key members of the Czech team were Counsels Martina Brezinova and Tomas Cihula and Senior Associates Tereza Naucova and Pavla Krskova. The Slovak team included Partners Adam Hodon and Roman Oleksik, Senior Associate Dominika Bajzathova, and Associate Marko Ernek. Partner Kvetoslav Krejci supported the team in relation to English law aspects of the transaction

 

Czech Republic Knowledge Partner

JŠK, advokátní kancelář, s.r.o. (JŠK) is a medium-sized law firm based in Prague providing a comprehensive range of commercial legal advisory services in the Czech Republic. Our team consists of almost 30 lawyers, five of whom are partners with many years of experience from leading international law firms. We advise local and international clients from banking, insurance and various industry sectors, boast a respected projects practice, and work for the public sector at the federal and municipal level.

Ever since it was founded in 2004, JŠK has striven for the epitome of professionalism, expertise and ethical integrity. We continuously seek to surpass what large global law firms can offer and to give our clients a personal approach. All mandates are equally important to us regardless of size as we guide clients through both complex and seemingly routine matters.

Our clients turn to us for advice when implementing their business plans across all areas of commercial law. We are proud members of PONTES: the CEE lawyers, a unique network of law firms through which we provide services not only in the Czech Republic but also in Austria, Bulgaria, Hungary, Poland, Romania and Slovakia.

Firm's website: http://www.jsk.cz

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