MOSCOW, July 6 -- Hogan Lovells US issued the following news release:
Hogan Lovells helms the sale of 100% of the shares in Insurance Public Stock Company "Region" ("Region") to Generali PPF Holding. This acquisition will enable Generali PPF to quickly enter new segments of the Russian insurance market, especially in the motor business. The deal was signed on 29 June 2012 and is expected to close after relevant regulatory approvals are received.
Region is an insurance company based in Saint-Petersburg. It was established as one of the first private insurance companies in Russia in 1993. Region is well known for its high quality of customer services.
Generali PPF Holding B.V. comprises businesses in 14 countries and is among the most important insurers in Central and Eastern Europe.
Hogan Lovells assisted the client on the key aspects of the deal. The transaction is still subject to the approvals of all relevant regulatory authorities.
The Hogan Lovells team was led by Richard Cowie (partner, corporate, Moscow) assisted by Konstantin Kontievskiy (associate, corporate, Moscow) and Ksenia Andreeva (associate, intellectual property, media and technology, Moscow).
TNS C-paypan56 120707-mv45-3943362