PIB Group Europa, backed by global private equity firms Apax Funds and The Carlyle Group, acquired Stein Bestasig Insurance Broker, which marks the debut of the UK-based company on the Romanian insurance market.
The transaction is part of PIB Group’s strategy to expand on the South-East European market, including by building a strong presence in Romania, through an acquisition plan targeting approximately 20 local insurance brokerage companies.
The transaction had a significant regulatory and local compliance component, involving a highly complex approval process. Clifford Chance has advised PIB Group throughout the entire transaction, in performing due diligence, negotiation of the envisaged transaction, negotiation of the management structure and relationships, as well as in advising on specific insurance brokerage compliance matters related to the structuring of the transaction.
