MDS acquires majority stakes in Seguramos: advisors
PLMJ advised MDS on the acquisition of a 50.1% stake in broker Seguramos. The deal represents one of the largest insurance brokerage transaction ever carried out in Portugal and strengthens MDS’s position in insurance distribution, states PLMJ. Deloitte Legal Telles has advised the shareholders of Seguramos on this transaction, in which MDS becomes the majority shareholder.
With this transaction, MDS Portugal will manage a premium volume of around €600 million and revenues of approximately €95 million in the country. The integration of Seguramos will allow MDS to double its network of agents to around 1,000 and expand its office network to 49.
PLMJ supported the entire negotiation and structuring process of the transaction, as well as the notification procedures before the Portuguese Competition Authority and the Insurance and Pension Funds Supervisory Authority.
On PLMJ’s side, the transaction was led by corporate/M&A partner Filipe Avides Moreira, with support from lawyers Tiago Belinha and Isabel Côrte-Real from the same practice area. PLMJ’s multidisciplinary team also included the banking and finance and capital markets practices, with partner Gonçalo dos Reis Martins and lawyers André Gama Loureiro, Teresa Proença Varão and Francisca Ramos Franco, as well as the EU and competition practice, with coordinating partner Ricardo Oliveira and lawyers Rodrigo Martins Policarpo, Julia Werberich and Matilde Neto Ribeiro, trainee lawyer.
Deloitte Legal Telles assisted the shareholders during the due diligence carried out by the buyer’s advisers on Seguramos and, at the same time, in defining the transaction structure. In a second phase, the law firm advised on the negotiation of the share purchase agreement for the shares held by the PROEF Group, representing 45% of Seguramos’ share capital, the capital increase through which MDS came to hold 50.1% of Seguramos’ share capital, as well as the shareholders’ agreement entered into between the MRGS Group and MDS.
On Deloitte Legal Telles’ side, the transaction was led by Cristina Ferreira, partner in the corporate, transactional and private equity practice, and Miguel Torres, partner in the tax practice at Deloitte Legal Telles, with the support of Maria José Aires Pereira and Flávia Sampaio.
Pictured from left to right, Filipe Avides Moreira, Cristina Ferreira and Miguel Torres.
