Schoenherr advises UniCredit on strategic Bancassurance partnerships with Allianz and Generali in CEE
Schoenherr has advised the UniCredit Group on establishing two exclusive strategic partnerships with Allianz and Generali for the distribution of insurance products for individuals and small-businesses in Bosnia and Herzegovina, Bulgaria, Croatia, Czech Republic, Hungary, Romania, Serbia, Slovakia, and Slovenia announced on 5 June 2018 (see here)
Schoenherr provided legal advice in all relevant CEE jurisdictions and overall project coordination in the CEE region together with Molinari e Associati who advised UniCredit Group on Italian law.
"This project was extremely challenging and complex, and covered nearly all of Schoenherr's jurisdictions. Owing to Schoenherr's strong CEE footprint and integrated, cross-border teams, we were able to support UniCredit in all countries," explained Schoenherr corporate/m&a partner Robert Bachner. "The project required a combination of Schoenherr's commercial and regulatory expertise throughout the entire CEE region, and our specialised insurance practice group provided valuable industry know-how," concluded Bachner who led the Schoenherr legal teams. Schoenherr will continue to advise UniCredit on the implementation of the agreement and regulatory approvals across CEE.
The Schoenherr team advising UniCredit was led by Robert Bachner (partner, Vienna; corporate/m&a) and consisted of ten advisory teams including inter alia corporate/m&a, banking & finance, financial regulatory, and insurance experts in nine CEE jurisdictions and relevant EU law.
UniCredit CEE Corporate Finance Advisory, and KPMG Corporate Finance were joint financial advisors. Allianz was advised by Allen & Overy and Generali was advised by Linklaters.