Matheson is pleased to have advised Assicurazioni Generali SpA on its acquisition of Liberty Seguros in a deal worth €2.3 billion.
Liberty Seguros is a Spanish insurance company operating in Spain, Portugal, Ireland and Northern Ireland. The acquisition by Generali, Italy's largest insurer, will strengthen Generali's P&C position in Spain (#4) and Portugal (#2) and will result in it entering the Irish and Northern Ireland markets.
The deal was driven by a cross-departmental Matheson team, based principally out of the firm's new offices in Cork and led by partner and Head of Matheson's Cork office, Gráinne Callanan (Financial Institutions Group) and senior associate Kieran O'Sullivan (Financial Institutions Group), working with lawyers across a range of Matheson practice areas, including Employment, Technology & Innovation, and Commercial Real Estate.
Matheson was also pleased to work alongside law firms Clifford Chance and Morais Leitão, while Citigroup and Credit Suisse acted as financial advisors.
The acquisition is subject to regulatory approvals, as is customary for transactions of this type.