February 2, 2017 / 7:58 AM / a year ago

BRIEF-Insurer CNP cancels earlier deal to buy Pan Seguros, Pan Corretora stakes

Feb 2 (Reuters) - Cnp Assurances :

* CNP says in statement that conditions needed to complete the previously agreed deal have not been met

* “As indicated in the press release dated April 21, 2016, the completion of such acquisition was subject to the fulfilment of various conditions precedent. In view of the fact that some of these conditions precedent have not been met, both CNP Assurances and BTGP acknowledged that the acquisition agreements ceased to be effective,” CNP says in statement

* CNP had previously struck a deal in 2016 to buy 51 percent stakes in Pan Seguros and Pan Corretora for around R$700 million. Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below