Sura Asset Management and Grupo Wiese to Sell Their Life Insurance and Mortgage Businesses in Peru for $268 Million
06.05.17
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Simpson Thacher is representing Sura Asset Management in Peru and Colombia and Grupo Wiese in Peru in connection with the sale of Seguros Sura S.A. (“Seguros Sura”) and Hipotecaria Sura S.A. (“Hipotecaria Sura”) to Intercorp Financial Services (“IFS”). Under the terms of the agreement, IFS will acquire all of the outstanding shares of Seguros Sura and Hipotecaria Sura in an all-cash transaction for an estimated purchase price of $268 million. The completion of the transaction is subject to the satisfaction of certain closing conditions, including regulatory approvals.
Seguros Sura is a provider of annuities and individual life insurance policies in Peru, and Hipotecaria Sura has a portfolio of real estate mortgage loans in Peru.
The Simpson Thacher team included Juan Francisco Méndez, Borja Marcos and Francisco Zappa (M&A); Jasmine Hay (Tax); Steve DeLott (Insurance); and Marcela Robledo (Intellectual Property).