Debevoise & Plimpton LLP is advising AXA in its agreement with Mercantil Colpatria to acquire a 51% stake in its insurance operations in Colombia (“Colpatria Seguros”) for a total consideration of COP 672 billion. The transaction is subject to customary regulatory approvals and closing is expected to take place in 2014.

The AXA Group is a worldwide leader in insurance and asset management, with 160,000 employees serving 102 million clients in 57 countries. Colpatria Seguros is the insurance arm of Mercantil Colpatria, one of the largest financial conglomerates in Colombia.

The Debevoise team is led by partners David Grosgold and John M. Vasily and includes partners Gary M. Friedman and Lawrence K. Cagney, counsel Judith L. Church and associates Michael Layfield, Sasha Linney, Michael G. Stern and Steven Keslowitz.