Machado Meyer advises Kovr Group on BRL 450 million deal

Machado Meyer Advogados advised the Kovr Insurance Group on the structuring and implementation of a corporate reorganization that preceded the change of control of the group to PicPay. Valued at BRL 450 million, the transaction included the creation of a regulatory holding company and the filing of an application for approval with the Superintendence of Private Insurance (Susep).

The firm’s team drafted the corporate documents for the incorporation of the new holding company and coordinated the request for approval of the acquisition of a qualifying interest in that company in the supervised entities Kovr Seguros, Kovr Previdência, and Kovr Capitalização, and was also responsible for the comprehensive review of the package submitted for prior approval of the change of control of the Kovr Group to PicPay, focusing on regulatory compliance and the legal certainty of the transaction.

Machado Meyer relied on partner Thomaz Kastrup (pictured) and lawyer André Hermont.