Romania: Schoenherr advises VIG on IFC investment in Romanian private pension fund company

The Schoenherr team provided comprehensive legal advice to VIG throughout all phases of this cross-border transaction, covering corporate/M&A, regulatory and English law matters. The transaction is subject to further regulatory approvals and successful completion.

"Building on our strong track record of advising on complex financial services transactions, including our recent advice to VIG on IFC's investment in VIG's Ukrainian insurance companies, we are delighted to have supported this landmark transaction in the Romanian private pension funds market," said Partner Markus Piuk, who led the team advising VIG in this project. "We congratulate the parties on this transaction and would like to thank everyone involved for their impeccable cooperation."

VIG is the leading insurance group in Central Eastern Europe. More than 50 insurance companies and pension funds in 30 countries form a group with a long-standing tradition, strong brands and close customer relations. Around 30,000 employees at VIG serve the day-to-day needs of approximately 33 million customers.

IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. It operates in more than 100 countries, using its capital, expertise and influence to create markets and opportunities in developing countries. 

The Schoenherr team advising VIG on this transaction was led by Markus Piuk (Partner), with Cristina Enaga (Counsel) playing a key role. The team further included Narcisa Oprea (Partner). The English law aspects were covered by Katerina Kaloyanova-Toshkova (Attorney at Law).