Clifford Chance has advised Caser’s main shareholder group formed by Abanca, Bankia and CaixaBank, on the sale, together with the French mutual company Covéa and other small shareholders, of a majority stake to Helvetia
The buyer is the Swiss insurance company Helvetia. According to Helvetia, the purchase price for a holding of almost 70 per cent in Caser is around €780 million.
The effectiveness of the purchase and sale is subject to the fulfilment of certain suspensive conditions, such as obtaining the appropriate regulatory and competition authority approvals.
The Clifford Chance team was formed by M&A partner Jaime Velázquez (pictured, left), M&A counsel and director of insurance area Jaime Sánchez (pictured, right), M&A senior associate Miguel Barredo and M&A associate Alberto Varela-Granda.