Tutélaire has just received approval from the Autorité de Contrôle Prudentiel et de Résolution (ACPR) for the transfer of the CAREL and Mutex SA supplementary pension portfolios for local elected represent…
TUTÉLAIRE, a mutual providence insurer specialising in dependency insurance, in partnership with the management of SOLUCIA PJ, has entered into an agreement to acquire SOLUCIA PJ and JUDICIAL, subsidiaries of the APRIL group.
The agreement, concluded following a period of exclusive negotiations, involves the transfer to the consortium formed by TUTÉLAIRE and the management of SOLUCIA PJ, of 100% of the shares of both companies, which posted a combined turnover of €35.6 million in 2018 and net profit of €2.2 million.
This acquisition will enable TUTÉLAIRE to consolidate its offerings in provident coverage and related services and accelerate its evolution in a context of far-reaching transformation in the world of insurance in general and the mutual sector in particular.
Completion of the acquisition, scheduled for the first quarter of 2020, is subject to the authorization of the French prudential control and resolution authority (ACPR) for the sale of SOLUCIA PJ.
By means of this transaction, ALTANA once again supports its client TUTÉLAIRE and demonstrates its know-how of strategic M&A transactions as well as its expertise in the banking, finance and insurance sectors.
Advisers in this transaction:
Press Contact:
Dominique Gillet: dgillet@altanalaw.com - +33 1 85 60 90 01 / 06 79 89 10 29
Louise Henry: louise.henry@lesroismages.fr - +33 1 41 10 08 03 / 06 84 34 55 35
