Baker McKenzie counsels Liberty Mutual on sale of Colombian subsidiary
Baker McKenzie’s Bogotá office has advised Liberty Mutual Insurance Company and its Colombian subsidiary Liberty Seguros in the sale of the shares of Liberty Seguros de Vida.
The sale includes two of Liberty Mutual’s business lines in Colombia, professional/labour risk insurance and individual life insurance.
The transaction was structured as a share purchase of 99.9 per cent of the subscribed and outstanding shares of the company. The deal includes, as a condition precedent to closing, the completion of a spin-off structured to carve-out certain assets and liabilities to another Liberty Group company.
In compliance, Baker McKenzie led the negotiation related to the non-compete clauses, in order to structure and fully comply with the Colombian antitrust provisions of the transaction. The value of the transaction was not disclosed.
Baker McKenzie’s lead lawyers acting as counsel were María Carolina Pardo Cuellar (pictured) and Andrés Crump, supported by Natalia Gutiérrez De Larrauri and Felipe Sanclemente Alzate.
