Sul America Takes Control of Financial Specialist

Sul America Takes Control of Financial Specialist

Brazil M&A

Brazilian insurer Sul America has agreed to acquire the 83.27% of Sulacap that it does not own from Saspar for up to BRL285m ($141m), it says. The price for the stake in the financial services company represents a base price of BRL214m, which could be increased by up to BRL71m if certain milestones are met. Sulacap claims to be Brazil’s fourth-largest provider of titulos de capitalizacao, a Brazilian product that combines savings bonds with a lottery component. It has 8.9% of the market by reven

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