October 19, 2016 / 11:51 AM / in a year

BRIEF-BR Insurance proposes merger with ten units

Oct 19 (Reuters) - BR Insurance Corretora de Seguros SA :

* Said on Tuesday that its board of directors will propose a merger with ten units, which will be wholly-owned by the company until the date of operation

* The units are: BI Ribeirao Corretora de Seguros, Classic Corretora de Seguros, Europa Insurance Services Assessoria em Gestao Empresarial, Lasry Corretora de Seguros, Megler BI Corretora de Seguros, SHT Administracao e Corretora de Seguros, Umbria Administracao e Corretagem de Seguros, Umbria Insurance Services Assessoria em Gestao Empresarial, York Brukan BI Assessoria Administradora e Corretora de Seguros and Victrix Administracao e Corretagem de Seguros

* The operation is part of the company’s plan to optimize corporate structure

* No new shares to be issued

Source text: bit.ly/2ekkiVM

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