Minsur S.A. has sold a 9.5% stake in RIMAC Seguros y Reaseguros S.A. to Inversiones Breca SA

Minsur S.A.has sold a 9.5% stake in RIMAC Seguros y Reaseguros S.A. (RIMAC) to Inversiones Breca SA, the investment holding of Brescia Group, for US$61 million.

RIMAC is a leading insurance company based in Peru. It offers health, vehicle, life, home, retirement, accident, travel, convention and other insurance products.

Inversiones Breca, through its subsidiaries, engages in mining, insurance and chemicals businesses. The company’s mining segment produces and commercializes tin and other minerals. Its insurance and health segment issues insurance policies to cover losses in commercial property, vehicles and vessels, and provides life and health insurance and pension plans. Founded in 2011 and is based in Lima, Peru, Inversiones Breca SA operates as a subsidiary of Brescia Group. After this acquisition, the firm holds 78.6% of RIMAC's shares.

Minsur is a mining company engaging in the exploration, exploitation and processing of mineral deposits in Peru. It primarily processes tin and gold. Minsur retains a 5% stake in RIMAC.

Oaklins' team in Peru advised the seller in this transaction.