BLP has advised ASSA Compañía de Seguros, S.A. in the acquisition of the insurance operations of Triple – S in Costa Rica. The firm’s advice involved all aspects of the transaction, including the due diligence process, regulatory and competition issues for the approval of the transaction by the General Superintendency of Insurance (SUGESE) and the Commission for the Promotion of Competition (COPROCOM), as well as Labor, Tax, Intellectual Property, and Real Estate issues related to the transaction.
ASSA Insurance Company, S.A. (“ASSA Costa Rica”), subsidiary in Costa Rica of ASSA Compañía Tenedora, S.A. (“ASSA”), will acquire the insurance portfolio, and other related assets and obligations that make up the business of the Costa Rican branch of Triple – S Blue, Inc. II. As it is the acquisition of the entire business, the transaction also includes the obligations of the insured, as well as the relations with employees, brokers, agents, reinsurers, and suppliers.
