LONDON and PARIS, July 8, 2024 – Proskauer, a leading international law firm, today announced it advised AnaCap, a market leading private equity investor within the European financial market, in its exclusive negotiation to acquire insurance software provider Cleva from Inetum Group. Cleva is a leading provider of core life, health and non-life insurance software solution.
The transaction is subject to the information and consultation of Inetum Group’s employee representative bodies and to typical closing conditions (including antitrust approval) and is expected to close second half of 2024.
Headquartered in Paris, Cleva serves more than 60 insurance carriers and brokers, predominantly in France and Portugal. With this new support from AnaCap and its impressive track record across both insurance and software, Cleva plans to accelerate its growth and expand its geographic footprint, especially in the Iberia region.
Proskauer has advised AnaCap in a long line of transactions including the closing of its maiden Continuation Fund at circa €300mn; the sale of a minority stake in MRH Trowe and advising in connection with the reinvestment terms relating to the sale of its majority stake in Gestión Tributaria Territorial, SA.
The Proskauer team advising AnaCap was led by partners Stéphanie Martinier and Andrew Houghton and associates Aurélie Briquet, Hugo Monteiro Vieira and Karim Z. El-Borhami (M&A); partner Mary Wilks (Antitrust); partner Oliver Howley and associate Jay Frankel (TMT); and partner Maud Manon and counsel Pierre Tardivo (Private Credit).
Proskauer worked with Cuatrecasas on the transaction in respect of Portuguese law advice.
About Proskauer
The world’s leading organizations and global players choose Proskauer to represent them when they need it the most. With 800+ lawyers in key financial centers around the world, we are known for our pragmatic and commercial approach. Proskauer is the place to turn when a matter is complex, innovative and game-changing. We work seamlessly across practices, industries and jurisdictions with asset managers, private equity and venture capital firms, Fortune 500 and FTSE companies, major sports leagues, entertainment industry legends and other industry-redefining companies.
Our premier M&A practice is distinguished by the combination of our transactional strength and deep sector knowledge. We are a destination firm for large-cap and middle-market deals with extensive expertise in the structural, cultural and procedural issues that are often at the center of complex, cross-border transactions. From London to New York, Paris to Los Angeles and across the globe, organizations turn to our lawyers for their most significant and transformative transactions. Our multi-disciplinary team offers actionable insights, sophisticated strategies and creative solutions that drive commercial success for our clients.
