Caixa insurance division sells stakes in subsidiaries to CNP

Caixa insurance division sells stakes in subsidiaries to CNP

Corporate & Sovereign Strategy Economy & Policy Equity M&A Brazil France Capital Markets

Caixa Seguridade, the insurance division of Brazilian state-owned savings bank Caixa Econômica Federal, said it sold its stakes in five subsidiaries to French insurer CNP Assurances for BRL667 million ($130 million), according to a securities filing. The sales include Caixa Seguridade's 48.3% stakes in CNP Consorcios, Odonto Empresas, Previsul and Saúde Caixa along with 24.6% in CNP Cap, the Brazilian insurer said in a filing on Wednesday. "The transaction is in line with Caixa's strategy to foc

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