Hogan Lovells Advises MAPFRE on EUR 550M Direct Line Acquisition
25 September 2014
25 September 2014 - Hogan Lovells has advised MAPFRE on the EUR 550 million acquisition of Direct Line Germany and Direct Line Italy, announced today.
The Spanish insurer will add the international arm of Direct Line Insurance Group PLC to its portfolio of travel, home emergency and specialty risk insurance products. The transaction is conditional upon regulatory and competition clearances, on which Hogan Lovells is also advising.
The Hogan Lovells team advising MAPFRE comprised lawyers in London, Germany, Italy and Spain and was led by London corporate partner Charles Rix and senior associate Richard Diffenthal in London, and MAPFRE relationship partner Joaquin Ruiz Echauri in Madrid. Madrid competition partner Casto González-Páramo, Dusseldorf corporate insurance partner Christoph Louven, Rome financial institutions partner Jeff Greenbaum and Milan corporate partner Francesco Stella provided regulatory and competition advice and corporate law related advice.
Commenting on the acquisition, Charles and Joaquin said:
"We are pleased to have extended our relationship with MAPFRE outside Spain by advising on this high profile and strategically important transaction involving two great insurance brands. The transaction demonstrates the quality and capability of our European M&A team."