Schoenherr has advised Uniqa on the sale of a 75% share in the Russian life insurance company Raiffeisen Life to Russian insurer Renaissance Life.
Renaissance Life is a subsidiary of Renaissance Insurance Group PJSC. The Renaissance Group is an independent insurance group that is publicly traded on the Moscow Exchange.
According to Schoenherr, "with the closing of this transaction, Uniqa is finally withdrawing from the Russian market. The transaction was signed in August 2023 and was subject to approval by the Russian authorities. In the meantime, the necessary approvals have been obtained and the transaction has been completed in full compliance with all sanction-related provisions."
In 2021, Schoenherr advised on Uniqa’s issuance of EUR 375 million green tier 2 notes and notes repurchase (as reported by CEE Legal Matters on December 17, 2021) as well as on its acquisition of the Light One office building in Bucharest (as reported by CEE Legal Matters on April 30, 2021). In 2020, the firm advised Uniqa on its acquisition of AXA subsidiaries in the Czech Republic, Poland, and Slovakia (as reported by CEE Legal Matters on February 14, 2020). In 2017, Schoenherr advised Uniqa on upgrading its business processes and IT infrastructure (as reported by CEE Legal Matters on February 14, 2017). In 2016, Schoenherr advised Uniqa on the sale of its Italian insurance companies (as reported by CEE Legal Matters on December 8, 2016) as well as on corporate restructuring in Austria (as reported by CEE Legal Matters on October 20, 2016).
The Schoenherr team included Partners Alexander Popp, Christoph Haid, and Peter Feyl, Counsel Gregor Petric, and Associates Johannes Resch, Gabor Kulcsar, Nikolaus Stepan, and Daniel Gritsch.
Schoenherr did not respond to our inquiry on the matter.
