Wolf Theiss has advised the international insurance group ERGO on the sale of its Czech subsidiary.
Sparkassen-Versicherung Sachsen has acquired ERGO pojišťovna from ERGO Versicherung Aktiengesellschaft and ERGO Austria International AG.
A cross-border team including Sarah Wared (Partner/Corporate/M&A) from Austria, and Barbora Malimankova (Senior Associate/Corporate/M&A), Robert Pelikan (Partner/Regulatory) and Tereza Naucova (Counsel/Corporate/M&A) from the Czech Republic advised ERGO on transaction agreements and regulatory aspects of the transaction as lead counsel. The deal was signed on 22 December 2020. The closing took place on 4 November 2021 and was subject to customary conditions precedent, in particular approval by the competent insurance supervisory authority.
ERGO Group is one of the major insurance groups in Germany and Europe. Worldwide, the Group is represented in approximately 30 countries and concentrates on Europe and Asia. ERGO Group offers a comprehensive spectrum of insurance, provision and services.