NN Group receives permission from the European Commission to acquire MetLife’s business activities in Poland and Greece
NN Group announces that it has received approval from the competent Directorate-General for Competition of the European Commission to proceed with the acquisition of MetLife’s business activities in Greece and Poland. It is recalled that the intention to acquire MetLife was announced on July 5, 2021.
This acquisition will strengthen NN’s current leadership position in the life and pension market in Poland and will create the largest company in the insurance market in Greece.
Following today’s approval and in the context of the current conditions for the completion of the transaction, NN Group expects to also receive the approval of the Polish and Greek Supervisory Authorities.
The completion of the acquisition of the Polish and Greek companies of MetLife may take place on different dates as the supervisory approval procedures are separate. However, all of them are expected to be completed within the first half of 2022.
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Source From: Capital
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