Aviva acquires Expander Advisors

Aviva, one of Poland's largest insurers signed a deal with Innova Capital, private equity fund to acquire a 100 percent stake in Expander Advisors, ISBnews reported citing Expander. The agreement is to be approved by the anti-monopoly watchdog UOKiK. "Thanks to the cooperation with Aviva we are gaining an unique competitive advantage. We are becoming the only firm in the sector with such strong position in terms of coming up with an offer," said Andrzej Oślizło, Expander's CEO. Expander Advisors recorded a 1,000 percent increase in its net profits in 2014, totaled PLN 18.4 million. It owns around 100 branches in 50 Polish cities.