ABN Amro's sale of its Hungarian life insurance subsidiary, Mébit, to UK life assurer CGNU represents a new phase in central and eastern European corporate finance activity, according to an adviser on the deal.
PricewaterhouseCoopers provided financial advice to ABN Amro on the deal. Ray Barrett, corporate finance director within the financial institutions group at PwC, said: "The deal is a nice one as historically central and eastern Europe has been privatisation driven. Now we are moving into the secondary market of mergers and acquisitions. The privatisations have been done and now the real M&A is happening."
