Rymarz Zdort Maruta advises GIA Investments on sale of five entities to MJM Holdings

We are pleased to announce that we advised GIA Investments on the conclusion of a preliminary agreement for the sale of 100% of the shares in five entities: Polska Grupa Brokerska sp. z o.o., International Brokers Group sp. z o.o., BD Advisory and Assistance sp. z o.o., GSU Centrum Usług Wspólnych sp. z o.o. and GSU Polisa sp. z o.o. to MJM Holdings “MJM Group”. The transaction will be finalised upon obtaining consent from the Office of Competition and Consumer Protection (UOKiK).

The acquisition of the GIA Investments entities will strengthen the MJM Group’s position in group life insurance and employee benefits, its own distribution network, long-standing brokerage and agency know-how and annual premiums in excess of PLN 410 million.

GIA Investments is a holding company of one of the largest brokerage and agency groups in Poland. GIA Investments handles in excess of PLN 410 million in annual premiums, specialising primarily in life insurance and assistance.

MJM Holdings is a leading company in the insurance distribution segment on the Polish market. The MJM Group includes brands such as Attis Broker, Smartt Re, MJM Brokers, MJM Risk Management and Leadenhall Insurance.

The work of the transaction team was led by Jakub Zagrajek (partner) and included Szymon Rutecki (associate) and Patrycja Gliwka (associate). Tax advice was provided by Piotr Zawacki (partner) and Maciej Kostrzewski (counsel).