Boston-based Liberty Mutual Group announced today that its Brazilian subsidiary, Liberty International Brasil Ltda, has signed an agreement to buy 100 percent of Indiana Seguros, S.A.
Monetary terms were not disclosed. Liberty said the acquisition is subject to regulatory approval in Brazil, and all parties are working to achieve the earliest possible closing date.
Based in Sao Paulo, Liberty Seguros S.A. has 76 branch offices around the country with more than 1,000 employees who serve 600,000 clients and nearly 10,000 brokers.
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