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Rentipar Seguros to acquire 83.57% stake in Global Vida - Companhia de Seguros de Vida from CNP Assurances

Posted on: Tue, 17 Nov 2009 13:36:00 EST

Symbols: CNPAF

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Nov 17, 2009 (Datamonitor Financial Deals Tracker via COMTEX) --
CNPAF | Quote | Chart | News | PowerRating -- Rentipar Seguros SGPS SA, a provider of insurance services, has entered into an agreement to acquire an 83.57% stake in Global Vida - Companhia de Seguros de Vida, SA (CSV), a provider of insurance services, from CNP Assurances SA, a French personal insurance provider. Both Rentipar and CSV are based in Portugal.

Concurrently, Rentipar has also entered into an agreement to acquire an 83.52% stake in Global - Companhia de Seguros, S.A. from CNP for a joint consideration of EUR117 million. The transaction is expected to close during the first quarter of 2010.

BNP Paribas S.A. is acting as financial advisor to CNP Assurances.

Deal Type    Acquisition
Sub-Category Majority Acquisition
Deal Status  Announced: 2009-11-12

Deal Participants

Target (Company)   Global Vida - Companhia de Seguros de Vida, SA
Acquirer (Company) Rentipar Seguros SGPS SA
Vendor (Company)   CNP Assurances SA

Deal Rationale

The transaction completes the refocusing of CNP Assurances in Southern Europe on its bancassurance core business and will reinforce the solvency ratio of CNP group by approximately 0.7%.

% Acquisition 83.57%

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