Groupe BPCE has announced an agreement to acquire GamaLife from Apax Partners, according to a report by ECO. The purchase price was not disclosed in the source.
GamaLife is described by the source as one of the reference companies in the Portuguese life insurance market. Apax Partners, described as one of the largest and oldest international private equity firms, acquired GamaLife from Novo Banco in 2019, a transaction in which Garrigues also provided legal advice.
Garrigues advised Apax Partners on the sale to Groupe BPCE, which the source describes as one of the leading French banking groups. The legal advice on this new transaction was led by Mário Lino Dias, a partner in Garrigues' mergers and acquisitions (M&A) practice, with the participation of José de Seabra Marcão, a principal associate, and Inês Freire de Andrade, a senior associate.
According to the source, the firm's involvement in this transaction reinforces Garrigues' experience in supporting M&A transactions and deals involving international investors in the Portuguese market.