Cuatrecasas, Gonçalves Pereira advises Catalana Occidente on acquiring Groupama Seguros in Spain

2012年6月21日

  • The Iberian firm advises Catalana Occidente and Inocsa on acquiring 100% of Groupama Seguros for €404.5 million. 
  • Catalana Occidente will acquire 49% of Groupama Seguros, while Inocsa, Catalana Occident’s majority shareholder, will acquire 51%.

Cuatrecasas, Gonçalves Pereira advised Catalana Occidente on an agreement with Groupama to acquire Groupama Seguros for €404.5 million. The insurer, headquartered in Sant Cugat del Vallés (province of Barcelona), will acquire 49% of Groupama’s Spanish subsidiary, while the Inocsa group, which controls 56.71% of Catalana Occident, will acquire 51%. Inocsa also granted Catalana Occidente a call option for the 51% stake with a three-year term. The only condition remaining to complete the transaction is the non-opposition of the Directorate-General for Insurance and the National Competition Commission.

This acquisition will allow Catalana Occidente to raise its turnover to €4 billion and increase its staff to 6,800 employees. Most of Groupama’s business is in the automobile insurance and multi-risk insurance sectors. Last year, the group’s turnover was €943 million, a potential that will now be added to that of Catalan Occidente.

The Corporate and Commercial team at Cuatrecasas, Gonçalves Pereira, led by partner Emilio Coco, took part in this important transaction by Catalana Occidente, which will make it the sixth insurer on the Spanish market in terms of volume of premiums.

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