Formal Go-Ahead For NN Group-MetLife Deal

NN Group announced recently that it has obtained competition clearance from the European Commission to acquire MetLife’s business activities in Poland and Greece. The intended acquisition was announced on 5 July 2021.

The acquisition will strengthen NN’s current leading positions in life and pensions in Poland, and create the number one life insurance company in Greece.

In addition to today’s competition clearance, and as part of the customary closing conditions to the transaction, NN Group is seeking to obtain clearance from both the Polish and Greek regulatory authorities. Given the separate regulatory clearance processes, the completion of the acquisitions of the Polish and Greek MetLife companies may occur at different dates. Both acquisitions are anticipated to be completed in the first half of 2022.

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