Hogan Lovells advised Talanx Group on the acquisition of insurance businesses in Latin America from Liberty Mutual Insurance Inc.
Dusseldorf, 30 May 2023 – With an international team co-led by partners Birgit Reese (Dusseldorf) and Peter Cohen-Millstein (New York), Hogan Lovells advised HDI International AG, Talanx' holding company for the group's international retail division, on the acquisition of Liberty Mutual's personal and small commercial insurance businesses in Brazil, Chile, Colombia and Ecuador.
Through this transaction, Talanx Group rises to become the third-largest insurer by premium income in property/casualty business in Latin America. The purchase price is expected to be approximately EUR 1.38 billion (approximately USD 1.48 billion) subject to customary purchase price adjustment mechanisms.
The closing of the transaction is expected in the first half of 2024. The transaction is subject to approval by the relevant governmental and regulatory authorities.
Read Talanx' press release here.
Hogan Lovells team for Talanx
Birgit Reese, Partner, Corporate Insurance / M&A, Dusseldorf (co-lead)
Peter Cohen-Millstein, Partner, M&A, New York (co-lead)
Meryl Bernstein, Partner, IP, New York
Aafke Pronk, Counsel, M&A, New York
Zachary Suggs, Associate, M&A, New York
Isabel da Costa Carvalho, Partner, M&A, São Paulo
Felipe Borges Lacerda, Senior Associate, M&A, São Paulo
Ana Laura Pongeluppi, Associate, M&A, São Paulo
Rafael Szmid, Associate, Antitrust, São Paulo
Dave C. Marley, Senior Associate, Insurance/Reinsurance, Philadelphia
Bob Juelke, Partner, Insurance/Reinsurance, Philadelphia
Prof. Dr. Michael Schlitt, Partner, Capital Markets, Frankfurt
Dr. Sebastian Biller, Counsel, Capital Markets, Frankfurt
Ricardo Pons Mestre, Partner, Antitrust, Mexico City
Martin Michaus Fernandez, Associate Antitrust, Mexico City
Dr. Falk Schöning, Partner, Antitrust, Brussels
Dr. Philipp Heuser, Senior Associate, Antitrust, Brussels
Jasper Howard, Partner, Tax, Washington, D.C.
Caitlin R Piper, Counsel, Tax, Washington, D.C.
Andrea Gregory DiSandro, Counsel, Intellectual Property, Northern Virginia
Inhouse Talanx team
Dr. Florian Schmidt, Head of Corporate, Commercial and M&A Law
Simon Kruse, Legal Counsel, M&A
The following firms advised Talanx as local counsel:
Brazil: Machado Meyer Advogados
Chile: Claro & Cia.
Colombia: Posse Herrera Ruiz
Ecuador: Bustamante Fabara