NN Group N.V. (ENXTAM:NN) agreed to acquire MetLife Businesses in Poland and Greece from MetLife, Inc. (NYSE:MET) for approximately €580 million on July 5, 2021. An additional dividend of €36 million shall be payable to shareholders before completion of the transaction. The transaction will be financed by a combination of cash capital at holding and around €100 million of local surplus capital. Closing of the transaction is subject to obtaining the necessary regulatory and competition clearances. As of December 7, 2021, NN Group has obtained competition clearance from the European Commission to acquire MetLife's business activities in Poland and Greece. In addition to today's competition clearance, and as part of the customary closing conditions to the transaction, NN Group is seeking to obtain clearance from both the Polish and Greek regulatory authorities. Given the separate regulatory clearance processes, the completion of the acquisitions of the Polish and Greek MetLife companies may occur at different dates. As of April 14, 2022, NN Group has received approval from the Polish Financial Supervision Authority. NN Group completed the acquisition of MetLife's businesses in Greece on January 31, 2022. The completion is expected in the first half of 2022. The transaction is expected to complete in April, 2022. The transaction is expected to create synergies and to lead to an incremental operating capital generation.

Barclays PLC acted as financial advisor and De Brauw Blackstone Westbroek N.V. acted as legal advisor to NN Group. Chris Southorn and Rizwan Rahman of CMS acted as a partner to the company, Ewa Swiderska of CMS acted as a Counsel to the company.

NN Group N.V. (ENXTAM:NN) completed the acquisition of MetLife Businesses in Poland and Greece on April 22, 2022.