M&A Deal Summary

ING Vysya Bank Acquires Seguros Commercial America

On July 1, 2000, ING Vysya Bank acquired insurance company Seguros Commercial America from Wand Partners

Acquisition Highlights
  • This is ING Vysya Bank’s 1st transaction in the Insurance sector.
  • This is ING Vysya Bank’s 1st transaction in Mexico.

M&A Deal Summary

Date 2000-07-01
Target Seguros Commercial America
Sector Insurance
Buyer(s) ING Vysya Bank
Sellers(s) Wand Partners
Deal Type Add-on Acquisition

Target

Seguros Commercial America

Guadalajara, Mexico
Seguros Commercial America is the largest insurance company in Mexico.

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Buyer(S) 1

Buyer

ING Vysya Bank

Bengaluru, India

Category Company
Founded 1930
Sector Financial Services
Employees10,059
DESCRIPTION

ING Vysya Bank is one of the oldest private sector banks in India with an 81 year long history offering a wide variety of wholesale, retail and private banking products and services over two million customers. ING is amongst the top 10 largest private sector banks in India in terms of deposits and advances.


DEAL STATS #
Overall 1 of 1
Sector: Insurance M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
Country: Mexico M&A 1 of 1
Year: 2000 M&A 1 of 1

Seller(S) 1

SELLER

Wand Partners

New York, New York, United States

Investor Investor


Category Private Equity Firm
Founded 1985
Size Middle-Market
Type Sector Focused
DESCRIPTION

Wand Partners is a specialist private equity firm that targets investments in financial service companies. Prospective transactions include buyouts, expansion financings and venture investments in new companies. Specific areas of interest include property/casualty insurance and reinsurance; life insurance; insurance brokerage; commercial banking, specialty finance; investment banking; investment management; real estate finance; and technology/marketing services. The Firm's target transaction range is $50 to $500 million. Wand Partners was formed in 1985 and is based in New York City.


DEAL STATS #
Overall 8 of 14
Sector: Insurance M&A 7 of 9
Type: Add-on Acquisition M&A Deals 2 of 6
Country: Mexico M&A 1 of 1
Year: 2000 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2000-04-01 SoundView Technology Group

Old Greenwich, Connecticut, United States

SoundView Technology Group, Inc. is the parent of SoundView Technology Corporation, a research-driven securities firm focused on technology and other growth sectors.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-03-08 Wells Fargo Insurance Services USA

Chicago, Illinois, United States

Wells Fargo Insurance Services USA (WFIS) is an insurance provider. The Business has a variety of product lines and services including Insurance Brokerage and Consulting, Employee Benefits and Property & Casualty, along with Safehold Special Risk, Small Business Insurance, Student Insurance, Individual Health and Private Risk Management Insurance.

Sell -