Italian insurance company Generali has agreed to acquire Liberty Mutual’s Spanish unit for €2.3 billion, with law firms Clifford Chance, Morais Leitão, Matheson and Skadden, Arps, Slate, Meagher & Flom advising on the deal.
With the all-cash acquisition of Liberty Seguros, which operates in Portugal, Spain, Ireland and Northern Ireland, Italy’s largest insurer, Generali, will bulk up its presence in the Iberian Peninsula and enter Ireland and Northern Ireland.
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