Budapest—The team led by István Réczicza assisted Vienna Insurance Company (VIG) on the sale of 45% of the Hungarian Aegon Group and Union Insurance Company to the Hungarian State-owned Corvinus Nemzetközi Befektetési Zrt. (Corvinus).

Due to transaction size and structure, the legal team had to overcome a number of obstacles and after a year of work the transaction has been successfully closed on March 25, 2022.

As a result of the transaction Corvinus acquired a non-controlling minority interest of 45% in Hungarian Aegon Group (including insurance, asset management, pension fund and service companies) and Union Insurance Company. VIG retains a controlling majority interest of 55% of both – Aegon and Union.

Dentons Budapest has led the negotiations regarding the equity participations through a complex and sensitive environment of high profile deal structuring with a very complicated regulatory background.

The Dentons team on the deal was led by Senior Partner István Réczicza supported by Partners Gábor Király and Annamária Csenterics, Of Counsel Theodore Boone, Associates Nóra Jakab, Brigitta Kovács and Kinga Kovács.

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