Vienna Insurance Group AG to acquire Central and Eastern European business of Aegon N.V.
Deloitte provided comprehensive buy-side transaction advisory services to VIG on the acquisition of Aegon's insurance, pension and asset management business in Hungary, Poland, Romania and Turkey.
Vienna Insurance Group AG (VIG) has acquired Aegon's insurance, pension and asset management business in Hungary, Poland, Romania and Turkey for a total consideration of EUR 830 million. The transaction marks one of the largest deals in the FSI sector in Central Europe in 2020 and the largest in the Hungarian insurance sector in the last 12 years. As a result, VIG further strengthens its leading position in the CEE region and becomes the largest insurance provider in Hungary.
Deloitte has provided comprehensive buy-side transaction advisory services to VIG on the transaction.
The transaction is subject to the necessary regulatory and competition approvals and the closing is expected to take place in the second half of 2021.
It is truly a landmark transaction and we are very proud to be a part of it. The project was delivered through a cross-regional cooperation of Deloitte Central European teams and this successful deal is a proven example of a joint effort across several countries and several streams. - says Balázs Bíró Financial Advisory Leader, Deloitte Central Europe.