White & Case Advises PPF Group on Generali-PPF Stake Sale
January 11, 2013 ... Global law firm White & Case has advised the PPF Group on the €2.5bn sale to Generali of its remaining 49 per cent stake in Generali-PPF, its joint venture with the Italian insurer.
Generali current owns 51 per cent of the Generali-PPF joint venture – a provider of multiline insurance, operating in 14 countries in Central and Eastern Europe (CEE) – with the remainder owned by PPF Group one of the largest financial investment groups in Central and Eastern Europe.
"A number of White & Case offices were involved in this high profile deal. It's an excellent example of the strength and depth of our capabilities and reflects the value we can provide our clients on cross border transactions," said Prague-based partner Damian Beaven. "The Firm has a longstanding relationship with PPF Group having advised them on the creation of the joint venture with Generali in 2007."
The acquisition will take place in two stages; Generali will acquire 25 per cent of PPF Group's stake in March this year, with the outstanding 24 per cent to be purchased by the end of 2014. PPF Group will acquire from the joint venture the business in Russia and certain CIS countries.
The White & Case team advising PPF Group was led by Prague-based partner Damian Beaven, with support from partners Michal Smrek, Ivo Janda (both Prague), Charlie Lightfoot (London) and Ferigo Foscari (Milan) and associate Edward Attenborough (London).
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