31.07.2020

EU Commission approves UNIQA’s acquisition of AXA in Poland, the Czech Republic and Slovakia

Short text (195 Characters)Plain text

  • Proposed acquisition has been approved without conditions by the EU Commission
  • Important milestone on the way to transaction closing

Press release (1218 Characters)Plain text

An important milestone in UNIQA's intended purchase of the French AXA Group subsidiaries in Poland, the Czech Republic and Slovakia has been reached: the EU Commission has not identified any conflicts in relation to competition law and has approved the proposed acquisition without any conditions.

“The intended acquisition is proceeding according to plan. Following the successful completion of the financing, the approval of the EU Commission brings us one step closer towards closing this transaction, which is very important for the entire UNIQA Group”, commented Andreas Brandstetter, UNIQA CEO. The financing of the acquisition was secured at the beginning of July 2020 by a senior bond with a volume of €600 million.

Pending regulatory approvals in the countries concerned, the full completion of the transaction (closing) is currently expected in the fourth quarter of 2020. If the acquisition is successful, UNIQA will grow by around five million customers, 2,100 employees and €800 million in annual premiums, and will thus improve its market position from number seven to number five in Central and Eastern Europe. 


 

 


UNIQA Group
The UNIQA Group is one of the leading insurance groups for its core markets of Austria and Central and Eastern Europe (CEE). Around 21,300 employees and exclusive sales partners serve around 15.5 million customers in 18 countries. UNIQA is the second-largest insurance group in Austria with a market share of more than 21 per cent. UNIQA operates in 15 markets in the CEE growth region: Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Czechia, Hungary, Kosovo, Montenegro, Northern Macedonia, Poland, Romania, Russia, Serbia, Slovakia and Ukraine. The UNIQA Group also includes insurance companies in Switzerland and Liechtenstein.

Contact

Gregor Markus Bitschnau, Konzern-Pressesprecher
 
Untere Donaustraße 21
1029 Wien
Tel: +43 1 211 75-3440
Mobil: +43 664 889 155 64
Fax: +43 1 211 75-3619

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