Latina Seguros y Reaseguros acquired the capital stock of Generali Peru

Barrios Fuentes Urquiaga, Abogados has advised Latina Seguros y Reaseguros S.A. (Latina), a corporation of the Venezuelan Group Equator Investment Holdings, in the acquisition of 98.09% of the shares representative of the capital stock of Generali Peru Compañia de Seguros y Reseguros S.A. (Generali) for an amount of around US$ 6.7 million, through the launching of a take-over bid [Oferta Publica de Adquisicion de Valores (OPA)], which was performed through BWS SAB and that ended on February 2005.

Manuel Barrios, of Barrios Fuentes Urquiaga, Abogados, commented ?This OPA entails special importance since the particular conditions under which the same was launched, caused the Comision Nacional Supervisora de Empresas y Valores (CONASEV) to issue a Resolution by which it interpreted several articles of the Regulations of the OPA, in order to expressly lay down the possibility to establish different payment systems for the shareholders who exercise the control of the company and the minority shareholders, as well as the possibility that the shareholders exercising control of the company, receivers of the OPA, waive to the guarantee of fulfillment of the OPA. This makes the OPA proceedings easier in situations where there are previous acquisition agreements with the control groups of shares listed in the Stock Exchange.?

Barrios Fuentes Urquiaga, Abogados counseled Latina through its partners Raul Barrios and Manuel Barrios, and the associate lawyer Karin Bottger, and the in-house lawyer of Latina, Octavio Vinces.

Generali was counseled by Muñiz Forsyth Ramirez Perez-Taiman & Luna-Victoria, through partners Albert Forsyth and Cesar Arbe and associate lawyer Fernando Martinot.

BWS SAB was counseled by its in-house lawyers Jorge Lazo, Maria Alicia Mejia and Gabriela Cuadros.