Elvinger Hoss Prussen provided Luxembourg legal advice to CVC Capital Partners Fund VII in its acquisition of 90.01% of the share capital of The Ethniki, Hellenic General Insurance Company S.A. ("Ethniki") from National Bank of Greece. The transaction values Ethniki at approx. EUR 505M and has been approved by regulatory authorities including the Bank of Greece and the European Commission. Ethniki is one of the largest insurance companies in Greece, providing life, non-life and pension products to individual and corporate customers within Greece and with subsidiary operations in Cyprus and Romania.
The team was led by partner Katia Panichi and included senior associate Fiorenza Cingolani. The team worked in close coordination with Latham & Watkins LLP.
