Ferrere counsels Grupo Itaú on acquisition of Providencia Sociedad Anónima de Seguros

Ferrere Paraguay has advised Grupo Itaú on the acquisition of 100% of the share capital of the insurance company Providencia Sociedad Anónima de Seguros

 Ferrere has counselled Grupo Itaú in the process of obtaining authorisation from the local competition authority in relation to the acquisition of control (100% of the share capital) of Providencia Sociedad Anónima de Seguros, an insurance institution operating in Paraguay.

As a result of this operation, Grupo Itaú will be able to develop a new area of its operations within the insurance sector, with the objective of providing new products related to the financial instruments it currently offers to its customers. In addition to benefiting customers, the insurance market in Paraguay will also benefit.

The transaction was authorised by the competition authority on 25 October 2021.

Ferrere’s team consisted of partners Verónica Franco (pictured top left) and Carlos Codas Zavala (pictured top right), together with associates Fernanda Benitez (pictured bottom left) and Claudia Arietti (pictured bottom right).