International law firm Trowers & Hamlins has advised RMS LLC on the sale of its majority stake in MAI CEE Ltd, a major insurance broker and employee benefits consultant in Central and Eastern Europe, to GrECO Group, headquartered in Vienna.
Based in Oman, the RMS Group provides risk management and insurance broking services to corporate customers throughout the Middle East and the Indian Sub-Continent.
MAI CEE was founded in 1991 in Hungary and is active in 13 central and eastern European countries with more than 240 employees, generating a revenue of 16 million EUR. MAI CEE services over 15,000 corporate clients and places insurance premiums of 150 million EUR.
Corporate partner Nick Harrisingh commented:
"We are delighted to have advised RMS on this strategic disposal."
Steve Bonynge, Group Chief Executive of the Oman based RMS LLC added:
“RMS’s decision to sell our 72.08% stake in MAI CEE reflects our strategy of serving clients in the Middle East and Asia. We would like to thank Trowers for their proactive help and support throughout the process.
The Trowers team was led by Corporate partners Nick Watson in Oman and Nick Harrisingh in London, with support from Omar Malek.
