Freshfields advises NN Group on the acquisition of VIVAT’s non-life insurance business
Freshfields Bruckhaus Deringer LLP (‘Freshfields’) is advising NN Group, a leading Netherlands-based insurer, on its proposed acquisition of VIVAT’s non-life insurance business. NN Group will acquire these activities from Athora, following the proposed acquisition by Athora of all activities of VIVAT from Anbang Group Holdings Co Ltd.
The acquisition of VIVAT’s non-life business will enhance NN Group’s strategic position and further strengthen its non-life platform in the Netherlands. Following the acquisition of VIVAT’s non-life business, NN Group will become the market leader in the Dutch non-life insurance market.
Completion of the acquisition by NN Group of the VIVAT non-life business is subject to closing of the acquisition of VIVAT by Athora. In addition, the acquisition of the VIVAT non-life business by NN Group from Athora is subject to customary closing conditions, including anti-trust clearance from the Authority for Consumers & Markets and the receipt of declarations of no-objection from the Dutch Central Bank. Both the acquisition of VIVAT by Athora and the subsequent acquisition of VIVAT’s non-life business by NN Group are subject to consultation of the works council of VIVAT.
Freshfields advised on the M&A, finance, competition, employment, tax and intellectual property aspects of the acquisition.
The Freshfields team is being led by partners Hanneke Rothbarth and Alexander Doorman, together with partners Brechje Nollen, Winfred Knibbeler and Mandeep Lotay, principal associate Saloua Ouchan and senior associates Zach Truscott, Bob van Kasteren and Jan-Jaap Koningsveld.
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