Bernitsas Law advised CVC, as seller, in the merger clearance process before the Hellenic Competition Commission regarding the sale of Ethniki Hellenic General Insurance (Ethniki Asfalistiki) to Piraeus Bank. The Hellenic Competition Commission has unconditionally approved in phase 1 the acquisition of sole control over Ethniki Asfalistiki by Piraeus Bank, a landmark transaction which marks a significant development in the Greek insurance market.
CVC is a leading global private markets manager focused on private equity, secondaries, credit and infrastructure with a global network of 30 local offices and €200bn of assets under management.
Ethniki Asfalistiki is a premier insurance company in Greece, offering a comprehensive range of life and non-life insurance products.
Piraeus Bank is one of Greece’s four systemic banks, providing a full spectrum of financial services and products in Greece and abroad.
Partner Marina Androulakakis led the competition team advising on this transaction.