Bank of Lithuania allows PZU acquisition

PZU has received the go-ahead for an acquisition of shares in the Lithuanian firm Lietuvos Draudimas AB. ISBnews reported that the Bank of Lithuania gave permission for the transaction, meanwhile PZU still awaits an antitrust decision on the matter. The Polish insurer has signed a deal with Royal & Sun Alliance Insurance plc for the purchase of three insurers in the Baltic States for a sum of €258 million. Lietuvos Draudimas AB will cost PZU €180 million. The purchase of Latvian insurance market leader AAS Balta has already been finalized at the beginning of July.