A-CAP Announces Agreement to Divest its Interest in Vasco da Gama SAF
A-CAP Announces Agreement to Divest its Interest in Vasco da Gama SAF
Transaction resolves legacy ownership issues, ends related litigation and supports an orderly ownership transition
A-CAP continues to effectively manage its asset portfolio and deliver solutions that create tangible benefits for policyholders and all other key stakeholders
NEW YORK--(BUSINESS WIRE)--Advantage Capital Holdings, LLC (“A-CAP” or the “Company”), an insurance and financial services holding company, today announced that it has entered into a definitive agreement to divest its interest in Vasco da Gama Sociedade Anônima do Futebol (“Vasco SAF” or the “Club”).
In connection with the transaction, all parties have voluntarily withdrawn the litigation related to the ownership dispute. Upon closing, the divestiture will resolve A-CAP’s legacy involvement with Vasco SAF and remove a significant source of uncertainty concerning the Club’s ownership and governance.
The transaction is expected to advance A-CAP's continuing focus on preserving value for its policyholders and other stakeholders, provide greater clarity and stability regarding the Club's ownership and governance, facilitate long-term planning and prospective investment in Vasco SAF, and support an orderly transition to the Club's prospective new ownership group.
“This agreement represents a constructive outcome for A-CAP, our policyholders, Vasco SAF and the Club’s supporters,” said Kenneth King, Chairman and Chief Executive Officer of A-CAP. “We appreciate the collaborative work of all parties to resolve a complex legacy situation and establish a clear path forward. The transaction supports an orderly ownership transition for one of Brazil’s most historic football institutions while advancing A-CAP’s continued focus on policyholder value.”
A-CAP has a proven track record of effectively managing its asset portfolio and delivering solutions that create tangible benefits for policyholders and all other key stakeholders. Today’s announcement builds on prior successful transactions involving Standard de Liège SA,, Everton FC and Melbourne Victory FC.
Moelis & Company LLC acted as US financial advisor to A-CAP on the transaction. Alain Yacine acted as Brazilian financial advisor and Bichara e Motta acted as Brazilian legal advisor on the transaction.
About A-CAP
A-CAP is a holding company with a diverse portfolio of insurance and financial businesses operating on an integrated platform. These businesses include primary insurance carriers, an SEC-registered investment adviser, reinsurance vehicles and marketing organizations. With broad expertise across the insurance and investment sectors, A-CAP provides services to policyholders, insurance-company clients and capital partners. Founded in 2013, A-CAP is privately held and maintains offices in New York, Charleston, Miami and Salt Lake City.
About Vasco da Gama SAF
Founded in 1898 in Rio de Janeiro, Club de Regatas Vasco da Gama is one of Brazil’s most historic and widely supported sporting institutions. Vasco SAF conducts the Club’s professional football operations and carries forward Vasco’s longstanding sporting tradition and connection with its supporters.