Harneys advises on US$900 million acquisition of Triple-S by GuideWell

Harneys acted as BVI and Anguilla counsel to GuideWell Mutual Holding Corporation (GuideWell) in connection with its acquisition of Triple-S Management Corporation (Triple-S), a leading health care services company in Puerto Rico, in a transaction completed on 1 February 2022.

GuideWell acquired all outstanding shares of Triple-S common stock for US$36.00 per share in cash, in a transaction valued at approximately US$900 million. Harneys acted on instructions from Cravath, Swaine and Moore LLP. A separate Harneys team advised Triple-S. The deal required approvals from regulators in both BVI and Anguilla.

The Harneys team working on the transaction included Partners George Weston, Russell Willings and Michelle Frett-Mathavious, Counsel Ayana Hull, Senior Associate Kimberly Seagojo, and Paralegal Suzette Phillips.

George commented: “It was a pleasure to have worked with GuideWell and Cravath on this exciting deal. Combined, these companies now serve 46 million people across 45 states, Puerto Rico, and the U.S. VirginIslands.”

As part of the deal, GuideWell committed US$1.25 million in donations to Hispanic non-profits in Orlando, Florida and Puerto Rico.