Ellex advised ERGO International AG on entering into the share purchase agreement for the acquisition of ADB Gjensidige

Ellex advised ERGO International AG, managing ERGO Group’s international business portfolio, on entering into the share purchase agreement for the acquisition of ADB Gjensidige from Gjensidige Forsikring ASA. The acquisition itself will be one of the top transactions this year.

ADB Gjensidige has 659 employees and provides general insurance products to both private and commercial customers in Lithuania, Latvia, and Estonia. Through this transaction, ERGO will expand its footprint across all three Baltic countries, further strengthening its local market position.

Ellex expertly navigated a complex, multi-jurisdictional deal within the highly regulated insurance market, highlighting its notable achievement given the rarity of such substantial insurance transactions in the Baltics.

“Ellex acted as lead counsel in all three Baltic countries, advising on all aspects of the deal. The transaction involved navigating a complex regulatory landscape across three jurisdictions. We ensured compliance with stringent insurance regulations, facilitated seamless cross-border communication, and expertly handled the deal’s complex legal challenges,” – says Ellex Partner Ramūnas Petravičius.

The transaction itself was coordinated by Ellex Valiunas team members Partner Ramūnas Petravičius (LT) and Senior Associate Augustinas Mačionis (LT).

The whole negotiations and legal due diligence process also involved Partners Šarūnas Kaserauskas (LT), Sven Papp (EE), Senior Partner Filips Kļaviņš (LV), Associate Partner Māris Brizgo (LV), Senior Associate Arvydas Grušeckas (LT), Counsel Gerda Liik (EE) and more than 25 other colleagues across all three offices in Lithuania, Latvia and Estonia.

Congratulations to both parties on this exciting development!