Wiz Soluções e Corretagem de Seguros S.A. completed the acquisition of 76% stake in Barigui Corretora de Seguros Ltda. from Ivo Luiz Roveda, Antonio Bordin Neto, Claudia Bordin Roveda, Carla Bordin, Angela Zagonel Neto, and Saur Salum Filho e Carlos Alexandre Kalache Mora.
March 02, 2020
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Wiz Soluções e Corretagem de Seguros S.A. (BOVESPA:WIZS3) entered into an agreement to acquire 76% stake in Barigui Corretora de Seguros Ltda. from Ivo Luiz Roveda, Antonio Bordin Neto, Claudia Bordin Roveda, Carla Bordin, Angela Zagonel Neto, and Saur Salum Filho e Carlos Alexandre Kalache Mora for BRL 7 million on December 18, 2019. The Purchase Price will be paid by Wiz Soluções e Corretagem de Seguros S.A. in two installments, one of which will be irrecoverable, in the amount of BRL 7 million to be paid on the closing date of the acquisition and the other, adjustable, with maturity on May 5, 2021. The cash payment will be adjusted downwards if the amount of Barigui Corretora de Seguros Ltda.'s portfolio of car insurance policies at the Closing Date is lower than 14,000 renewable insurance policies, and the price adjustment will be of BRL 500 per missing policy. The variable installment, payable in cash, will be determined by the parties by measuring the fulfillment of certain performance targets related to the amount of new Auto insurance policies issued and to the penetration rates of new credit insurance. The two entries will join to form Wiz Conseg, with Wiz Soluções e Corretagem de Seguros S.A. holding 76% stake and Barigui Corretora de Seguros Ltda. Holding 24%. WIZ Conseg's management board will comprise of three members, 2 from Wiz Soluções e Corretagem de Seguros S.A. and one by minority partners, who will assume the position of Chairman of the Board and the Board of Directors will comprise of 2 members, who will be nominated by the partners. The transaction is subject to usual conditions including approval from CADE. PWC provided due diligence and valuation while Trench Rossi Watanabe acted as legal advisor in the transaction. Daniel de Miranda Facó of Baker & McKenzie LLP acted as legal advisor to Wiz Soluções e Corretagem de Seguros S.A. in the transaction.
Wiz Soluções e Corretagem de Seguros S.A. (BOVESPA:WIZS3) completed the acquisition of 76% stake in Barigui Corretora de Seguros Ltda. from Ivo Luiz Roveda, Antonio Bordin Neto, Claudia Bordin Roveda, Carla Bordin, Angela Zagonel Neto, and Saur Salum Filho e Carlos Alexandre Kalache Mora on March 3, 2020.
Wiz Solucoes e Corretagem de Seguros SA, formerly FPC Par Corretora de Seguros SA, is a Brazil-based company engaged in the insurance brokerage activities. The Company's product portfolio is divided into two areas: products for individuals and corporate products. Within the personal insurance area, it primarily provides life, dental, car and property insurance, among others. The corporate area includes health, dental, life, fleet and equipment, as well as property and casualty insurance, among others. The Company provides also insurance-related consulting services. Furthermore, it cooperates with a number of entities, such as Caixa bank, Caixa Seguros group and Federacao Nacional das Associacoes do Pessoal da Caixa Economica Federal (Fenae).
Wiz Soluções e Corretagem de Seguros S.A. completed the acquisition of 76% stake in Barigui Corretora de Seguros Ltda. from Ivo Luiz Roveda, Antonio Bordin Neto, Claudia Bordin Roveda, Carla Bordin, Angela Zagonel Neto, and Saur Salum Filho e Carlos Alexandre Kalache Mora.
WIZ CO PARTICIPAÇÕES E CORRETAGEM DE SEGUROS S.A. 
