Linklaters has announced that it advised PZU on the insurance company's acquisitions of four insurance companies in Poland and the Baltics, reported by CEE Legal Matters on April 18, 2014.
PZU, which Linklaters describes as "CEE's largest insurance company", acquired Link4 in Poland, Lietuvos Draudimas in Lithuania, AAS Balta in Latvia, and Codan Forsikring in Estonia, all from the the British RSA insurance group. As a result of the acquisition, PZU will become the largest insurer in the Baltic region. Closing of the transaction is subject to regulatory approvals.
A team of lawyers from Linklaters in Warsaw and London advised PZU on all legal, regulatory, and tax aspects of the transaction and co-ordinated the input of local counsel Sorainen.
The team was led by Partner Daniel Cousens and Managing Associate Marcin Schulz in Warsaw.