FERRERE advised Insigneo, a financial services firm with a prominent presence in Latin America, on closing the deal in which it acquired 100% of the shares of Citi Asesores de Inversión Uruguay S.A., in the context of a transaction also involving purchase of Citi International Financial Services of Puerto Rico.
Following the deal closing on August 1, 2022, the acquired entities will operate independently under the Insigneo brand.
With this acquisition, Insigneo will exceed USD 17 billion in client assets, and will provide services to over 400 investment professionals. According to Raúl Henríquez, the company’s chairman and CEO, “This acquisition is truly transformational for Insigneo as it adds significant scale to our business and expands the reach of our platform, while enhancing our product offering by providing access to Citi’s banking solutions.”
FERRERE’s work, led by partners Geraldine Ifrán and Diego Rodríguez, along with a team of practitioners including, among others, partner and attorneys Federico Lemos, Cecilia Trujillo, Walter Planells, María Eugenia Gitto, Nelson Larrañaga, Alejandra Añón, Ana Laura Oliveros and Victoria Évora, involved the Asesores due diligence, advice on regulatory aspects and transaction structuring, as well as assistance on the transaction documents and closing.
Following this closing, FERRERE continues to assist the Insigneo group entities on their business in Uruguay.