Fairfax Financial €316 million acquisition of Eurolife

22/12/2015

Public acquisition

Value:

€ 316 million

Dollar value:

$ 350 million

Status:

Completed

Date:

22/12/2015

Overview:

Fairfax Financial has acquired 80% of Eurobank Ergasias's Greek and Romanian life and non-life insurance operations - Eurolife ERB Insurance (Eurolife).
The sale was carried out in the context of Eurobank's commitment to divest from its non-core banking activities.
Eurobank will retain 20% stake in Eurolife after the sale.

Wai Yee Tsang - Journalist

Jurisdictions:

Greece
Romania

Deal type:

Public acquisition

Practice area:

M&A

Governing laws:

England and Wales
Greece

Industry sector:

Insurance

Firms:

A&O Shearman - Germany

Party: Eurobank Ergasias (Seller)

Bernitsas Law

Party: Eurobank Ergasias (Seller)

Lawyer: Nikos Papachristopoulos

PotamitisVekris

Party: Fairfax Financial Holdings (Acquirer)

Lawyer: Stathis Potamitis

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