This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Covington Advises Grupo Sura In $516 Million Acquisition

WASHINGTON, April 23, 2013 /PRNewswire/ -- Covington & Burling advised Sura Asset Management S.A. and AFP Integra S.A., affiliates of the Latin American financial group Grupo de Inversiones Suramericana, in a joint acquisition with Profuturo AFP S.A., an affiliate of The Bank of Nova Scotia, of 100 percent of the shares of AFP Horizonte, S.A., the Peruvian pension fund manager, from the Spanish bank Banco Bilbao Vizcaya Argentaria S.A. and other shareholders.

(Logo: http://photos.prnewswire.com/prnh/20120423/CL92331LOGO)

AFP Integra and Profuturo AFP have each acquired 50 percent of the shares of AFP Horizonte for an aggregate purchase price of approximately $516 million. The transaction signed and closed simultaneously on April 23 and was carried out over the Lima Stock Exchange.

The transaction is based on a conditional authorization granted by the Peruvian pension regulator. Within the six month period following the closing, approximately half of the assets and liabilities of AFP Horizonte, and half of the fund assets managed by AFP Horizonte, are expected to transfer to Profuturo AFP, and AFP Horizonte is expected to merge into AFP Integra.  

The Covington team was led by Gabriel Mesa, with the participation of Ruben Kraiem and the assistance of Cecile Zwiebach. Robert Heller advised on tax matters and Lee Tiedrich and Jessica Milner on intellectual property matters. The law firm of Miranda & Amado advised on Peruvian law matters.

Covington & Burling LLP, an international law firm, provides corporate, litigation, and regulatory expertise to enable clients to achieve their goals.  Founded in 1919, the firm has more than 800 lawyers and offices in Beijing, Brussels, London, New York, San Diego, San Francisco, Seoul, Shanghai, Silicon Valley, and Washington, DC.

Contact: Rebecca Carr+1.202.662.5110 rcarr@cov.com

SOURCE Covington & Burling

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs