AnBang in Delta Lloyd Bank Acquisition

Cleary Gottlieb is representing Anbang Insurance Group in its €219 million acquisition of Delta Lloyd Bank, a Belgian banking subsidiary of Dutch insurance group Delta Lloyd.

Anbang is a PRC-based insurance group with total assets of over €90 billion and approximately 30,000 employees; it has embarked on a strategic development campaign in Europe, having recently acquired Belgian insurer Fidea from JC Flowers & Co (a transaction in which Cleary Gottlieb represented JC Flowers). It also recently acquired the Waldorf Astoria hotel in New York city.