Austrian company Uniqa has won the fight over the branches of French financial group Axa in the Czech Republic, Poland and Slovakia. The transaction worth about €1 billion will have to be approved by the regulatory bodies, but this will probably only be a formality.
It is expected that the merger of both insurers will be completed by the end of this year. Axa manages life and non-life insurance, and also a pension fund management company (DSS).
Uniqa qill is also taking over a branch that operated here as a subsidiary of a Czech investment company offering nine mutual funds and two programmes of regular investment.
