Morais Leitão, together with Clifford Chance and Matheson, advised Generali on the acquisition of Liberty Seguros, a Spanish insurance company operating in Portugal, Spain, Ireland and Northern Ireland, from Liberty Mutual.
Morais Leitão’s team was headed by Eduardo Paulino (partner) and Margarida Torres Gama (partner and head of the insurance, reinsurance and pension funds team), with the participation of Marta Pereira Rosa (managing associate) and Nuno Sobreira (principal associate), as well as of a large multidisciplinary team. The role of the competition law team, led by Luís do Nascimento Ferreira (partner), with the participation of Dzhamil Oda (managing associate) and Joana Simões Coelho (junior lawyer), which took responsibility for the overall coordination of the competition law aspects in all the jurisdictions involved, should also be highlighted.
The 2.3 billion euro transaction represents a significant step forward for Generali as it pursues its growth strategy in Europe. Citigroup and Credit Suisse acted as financial advisors. The completion of the acquisition is subject to regulatory approvals, as usually required in this type of transaction.