Pérez-Llorca advises Prudential Financial on the $4.025 billion sale of its Brazil and Mexico businesses

Pérez-Llorca has represented Prudential Financial, an international financial services and insurance group, in the sale of its Brazil and Mexico businesses to the French insurance group CNP Assurances for a combined total of $4.025 billion.

The transaction involves the sale of 100% of the share capital of Prudential of Brazil and Prudential of Mexico to CNP Seguradora and CNP Assurances Holding, respectively. The transaction, which is expected to close in the second half of 2027, is subject to the relevant regulatory approvals and to the fulfilment of the conditions customary for this type of transaction.

This divestment forms part of Prudential Financial’s strategy to simplify its international structure and focus its resources on the businesses and markets offering the greatest long-term growth opportunities, particularly in the United States, Japan and certain European markets. The acquisition will enable CNP Assurances to significantly strengthen its presence in Brazil, where it is already one of the leading insurance groups, and to enter the Mexican market, thereby consolidating its position in Latin America.

Pérez-Llorca acted as legal adviser to Prudential Financial in Mexico on this distinctly international transaction, in which Willkie Farr & Gallagher and Mattos Filho also acted as legal advisers to the seller. CNP Assurances was advised by Skadden, Arps, Slate, Meagher & Flom, BMA Advogados in Brazil and Galicia Abogados in Mexico. Morgan Stanley and Goldman Sachs acted as financial advisers to Prudential Financial and CNP Assurances, respectively.

The Pérez-Llorca team was multi-jurisdictional and multi-practice, led by partners Joaquín Ruiz Echauri, Bernardo Reyes Retana and Patricio Martínez, together with nine other legal professionals: Francisco Álvarez Campos, Fátima Eizaguirre, Luisa Fernanda Esquinca Pacheco, Vanessa Flores Rojas, Manuel Gutiérrez Gómez, Daniela Hidalgo Martínez, Alfonso Palafox Camacho, Michelle Posada Mendoza and Miguel Ángel Rosas Ortiz.

Pictured: Fátima Eizaguirre, Joaquín Ruiz Echauri, Bernardo Reyes Retana, Francisco Álvarez Campos