Sayenko Kharenko has advised insurance and asset management company AXA Group and UkrSibbank on the sale of PrJSC Insurance, AXA Insurance, and ALC Insurance company AXA Life Insurance to Fairfax Financial Holding Limited.
Completion of the transaction is subject to customary closing conditions, including the receipt of regulatory approvals from the Antimonopoly Committee of Ukraine and the National Commission for State Regulation of Financial Services Markets.
AXA has over 160,000 employees worldwide, serving over 105 million clients in 62 countries. In 2017, IFRS revenues amounted to EUR 98.5 billion and IFRS underlying earnings to EUR 6.0 billion. AXA had EUR 1.439 billion in assets under management as of December 31, 2016. AXA Group companies are also long-term leaders in the Ukrainian market in the field of P&C and life insurance.
International holding company Fairfax Financial Holdings Limited, headquartered in Toronto, Canada, has been engaged in insurance, reinsurance, and investment management since 1985. The company is listed on the Toronto Stock Exchange with a market capitalization of USD 15.1 billion. The company’s investment portfolio amounts to USD 39.4 billion, gross assets stand at USD 65.1 billion and share capital is USD 18.4 billion. In 2017, the company earned USD 1.74 billion.
Sayenko Kharenko`s team was led by Counsel Sergiy Kazmirchuk with support from Associate Mykola Lykhoglyad, both working under the supervision of Partner Vladimir Sayenko.