Tokyo-based insurance group Sompo Japan has completed its purchase of a 50 per cent stake in Brazilian life insurer Marítima Seguros for 328 million reais (US$175 million).
 
Freshfields Bruckhaus Deringer LLP in Tokyo and Machado, Meyer, Sendacz e Opice Advogados in São Paulo helped Sompo acquire the shares through its Brazilian subsidiary Yasuda, while Marítima used Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados.
 
The deal, announced in May, closed on 24 July after receiving the approval of Brazil's insurance superintendency, SUSEP, and private health-care regulator, ANS.
 
"This is a good example of the relevant Brazilian regulators working quickly to provide the necessary clearances," says Freshfields partner Edward Cole. "From a global perspective, it was quite a short time between signing and gaining the requisite approvals."
 
Marítima is Brazil's tenth-largest insurer.
 
Counsel to Sompo Japan Insurance and Yasuda Seguros
 
Japan
 
           Freshfields Bruckhaus Deringer LLP
 
Partner Edward Cole and associates Graham Kirk and Shinsuke Kobayashi
 
Brazil
 
           Machado, Meyer, Sendacz e Opice Advogados
 
Partner Carlos José Rolim de Mello and associates Ana Luiza Vieira Franco, Juliana Aguinaga Damião, Julia Barreto Lobo, Felipe Gruber Ribeiro, Eduardo Avila de Castro and Thais Helena de Gobbi
 
Counsel to Marítima Seguros
 
           Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados
 
Partner Moacir Zilbovicius and associates Marcelo Ricupero, Marina Schaffa and Tereza Marcondes Cidade
 
SP
 
(Latin Lawyer 28.07.2009)
 
(Notícia na Íntegra)