July 7, 2005
A Brazilian judge lifted an injunction that had suspended the sale of a con
A Brazilian judge lifted an injunction that had suspended the sale of a controlling stake in Nossa Caixa Seguros e Previdencia, the insurance and pensions unit of Brazil's tenth-biggest bank, to Corporacion Mapfre. This decision paves the way for Mapfre, Spain's biggest insurer, to take over the unit as soon as it gets permission from Brazil's insurance regulator. Mapfre agreed on May 24 to pay $95 million for a 51 percent stake in the business.