Global, sector-focused law firm HFW advised Chedid Capital Holding on its acquisition of the Africa business of international insurance brokerage group Ascoma Assureurs Conseils (ASCOMA).
Chedid Capital founder and CEO Farid Chedid has been appointed as the Chairman and Group CEO of ASCOMA, while the former owners, the Husson family, will retain a 20% stake in the business and will maintain its insurance brokerage activities in Monaco and France.
ASCOMA has 23 subsidiaries and 780 employees across 21 African countries, and focuses on insurance broking and the management of healthcare costs for companies and insurers.
HFW’s team advising Chedid Capital comprised Costas Frangeskides, Alex Kyriakoulis, Nick Hutton, William Reddie, Daniel Li, Katherine Noble and Denis Nifontov.
Costas Frangeskides, Partner, HFW:
“We are proud to have advised Chedid Capital on this important step in its strategic vision of being a leader in insurance broking across the Middle East and Africa.”
