EU Clears €2.5B Allianz, Santander Deal For Aviva Poland

By Najiyya Budaly (August 10, 2021, 1:42 PM BST) -- The European Commission has waved through Allianz and Santander Bank's €2.5 billion ($2.9 billion) acquisition of Aviva's Polish companies after finding that the proposed transactions wouldn't hinder competition in the bloc's insurance markets.

The European Union executive arm said on Monday that it has approved the Austrian arm of Allianz SE's proposed acquisition of Aviva Poland under the bloc's merger rules.

Allianz provides life and general insurance, as well as asset management services in 70 countries. Aviva Poland offers insurance, pensions and asset management services domestically. It also offers life insurance and pensions services in Lithuania.

The commission said it has...

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