Brazilian retailer Journal Luiza stated on Thursday it had entered into a brand new settlement with Luizaseg and insurance coverage firm Cardif to launch new merchandise and keep their partnership providing insurance coverage to prospects till December 2033.
Journal Luiza stated it should obtain a web quantity of 850 million reais beneath the phrases of the deal, along with month-to-month commissions and extra funds if sure targets are met.
The corporate added in a doc to the Brazilian Securities Fee (CVM) that it additionally agreed to promote its stake in insurance coverage firm Luizaseg to Cardif-controlled firm NCVP for 160 million reais, which might convey the whole worth of the deal to 1.01 billion reais.
