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UniCredit advises Talanx subsidiary HDI International AG on sale of Russian life insurance unit to Sovcombank

UniCredit advises Talanx subsidiary HDI International AG on sale of Russian life insurance unit to Sovcombank

Transaction highlights the bank's market-leading CEE Financial Institutions team, as well as its strong track record in insurance M&A deals.

 

UniCredit has successfully advised Talanx subsidiary HDI International AG on the sale of its Russian life insurance unit to Sovcombank - with the deal representing the second successful M&A advisory transaction for the multinational following the buy-side mandate for Polish TU Europa a decade ago.

 

Through this sale, the Talanx Group is streamlining the portfolio of its Retail International Division in Central and Eastern Europe and underscoring its focus on profitable growth in its core markets.

 

The Industrial Lines business of HDI Global SE in Russia remains unaffected and will be continued.

 

The transaction is expected to close in the first quarter of 2022 and is subject to regulatory approval.

 

Both parties have agreed not to disclose the purchase price.