EU signs € 2.5 billion deal between Allianz and Santander for Aviva Poland

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Law360, London (Aug 10, 2021, 1:42 p.m. BST) – The European Commission has signaled to Allianz and the acquisition of 2.5 billion euros ($ 2.9 billion) by Allianz and Santander Bank of Polish companies in ‘Aviva after noting that the proposed transactions would not impede competition in the block’s insurance markets.

The executive branch of the European Union said on Monday that it had approved the proposed acquisition of Aviva Poland by the Austrian arm of Allianz SE under the bloc’s merger rules.

Allianz provides life and property insurance, as well as asset management services in 70 countries. Aviva Poland offers insurance, pension and asset management services nationwide. It also offers life insurance and pension services in Lithuania.

The commission said it had …

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