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CMS and Alrud Advise on RESO-Garantia Acquisition of ERGO Insurance Company

CMS and Alrud Advise on RESO-Garantia Acquisition of ERGO Insurance Company

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CMS has advised RESO-Garantia on its acquisition of ERGO Insurance, a Russian subsidiary of the ERGO Group, from ERGO International AG. Alrud advised ERGO International on the sale. Financial details were not disclosed and the acquisition remains subject to regulatory approvals.

The deal involves SPAO RESO-Garantia acquiring the ERGO Non-Life business in Russia, including the customer portfolio, staff, and IT systems. According to CMS, the acquisition is part of SPAO RESO-Garantia’s growth strategy, which includes expanding the motor insurance portfolio and maximizing cost synergies.

Established in 1991, SPAO RESO-Garantia is a Russian insurance company headquartered in Moscow. ERGO is an insurance group in Germany and Europe. The group is represented in over 30 countries worldwide. ERGO is a part of Munich Re, which is a reinsurer and risk carrier.

The CMS team in Russia consisted of Partner Vladimir Zenin, Counsel Gregor Kennedy, and Associate Elizaveta Rakova. The team in Germany involved Partners Igor Stenzel, Rolf Hempel, and Ralf Kurney and Associate Julian Hornberg. 

The Alrud team was led by Partner Alexander Zharskiy and included Senior Associates Sergey Khanaev, Associates Ksenia Erokhina and Marina Yufa, Senior Attorneys Elina Arazakaeva and Ilya Khodakov.

CMS at a Glance

CMS Sofia is a full-service law firm, the largest international law firm in Bulgaria and one of the largest providers of legal services in the local market as a whole. The breadth and depth of our practice means that our lawyers are specialised, with a level of specialisation that few of our competitors can match.

CMS Sofia is the Bulgarian branch of CMS, a top ten global legal and tax services provider with over 5000 lawyers in 43 countries and 78 offices across the world.

CMS entered the Bulgarian market as one of the first internationally active law firms in 2005 and is now among the most respected legal advisors in the country. We have 7 partners, 4 counsel and over 30 lawyers in our office in Sofia.

Our legal experts, who are rooted in Bulgaria’s local culture, can also draw on years of experience in foreign countries and are at home in several legal systems at once. We know the particularities of the local market just as well as the needs of our clients and combine both to achieve optimum solutions. Our lawyers are Bulgarian qualified and we also have English qualified experts – all of them regularly working on cross-border mandates.

In our work, we focus on M&A, Energy, Projects and Construction, Banking and Finance, Real Estate, Media, IP and IT law, Tax, Employment law, Competition, Procurement and any kind of Dispute resolution, including arbitration and mediation. What’s more, we also take care of the entire legal management of our clients’ projects.

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