AXA Gets EU Clearance for Acquisition of Credit Mutuel's Spain Unit
May 08 2023 - 7:00AM
Dow Jones News
By Adria Calatayud
The European Union's executive arm said Monday that it has
approved AXA's proposed acquisition of Groupe des Assurances du
Credit Mutuel's Spanish subsidiary.
The European Commission--the EU's antitrust enforcer--said it
concluded that the proposed acquisition would raise no competition
concerns given the parties' moderate combined market positions.
French insurer AXA in October said its Spanish business had
entered into exclusive talks to acquire GACM Espana for 310 million
euros ($341.5 million) in cash, subject to potential contractual
adjustment.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
May 08, 2023 07:45 ET (11:45 GMT)
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