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Sayenko Kharenko Advises on AXA Group Companies Sale in Ukraine

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Sayenko Kharenko has advised insurance and asset management company AXA Group and UkrSibbank on the sale of PrJSC Insurance, AXA Insurance, and ALC Insurance company AXA Life Insurance to Fairfax Financial Holding Limited. 

Completion of the transaction is subject to customary closing conditions, including the receipt of regulatory approvals from the Antimonopoly Committee of Ukraine and the National Commission for State Regulation of Financial Services Markets.

AXA has over 160,000 employees worldwide, serving over 105 million clients in 62 countries. In 2017, IFRS revenues amounted to EUR 98.5 billion and IFRS underlying earnings to EUR 6.0 billion. AXA had EUR 1.439 billion in assets under management as of December 31, 2016. AXA Group companies are also long-term leaders in the Ukrainian market in the field of P&C and life insurance.

International holding company Fairfax Financial Holdings Limited, headquartered in Toronto, Canada, has been engaged in insurance, reinsurance, and investment management since 1985. The company is listed on the Toronto Stock Exchange with a market capitalization of USD 15.1 billion. The company’s investment portfolio amounts to USD 39.4 billion, gross assets stand at USD 65.1 billion and share capital is USD 18.4 billion. In 2017, the company earned USD 1.74 billion.

Sayenko Kharenko`s team was led by Counsel Sergiy Kazmirchuk with support from Associate Mykola Lykhoglyad, both working under the supervision of Partner Vladimir Sayenko.

Ukraine Knowledge Partner

AVELLUM is a leading Ukrainian full service law firm with a key focus on Finance, Corporate, Dispute Resolution, Tax, and Antitrust.

Our aim is to be the firm of choice for large businesses and financial institutions in respect of their most important and challenging transactions.

We build lasting relationships with our clients and make them feel secure in new uncertain economic and legal realities.

We incorporate the most advanced Western legal techniques and practices into our work. By adding our first-hand knowledge, broad industry experience, and unparalleled level of service we deliver the best results to our clients in their business endeavours. Our partners are taking an active role in every transaction and ensure smooth teamwork.

AVELLUM is recognised as one of the leading law firms in Ukraine by various international and Ukrainian legal editions (Chambers, The Legal500, IFLR1000, The Ukrainian Law Firms, and others).

Firm's website: www.avellum.com

 

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