AXA intends to acquire the Spanish subsidiary of Groupe des Assurances Crédit Mutuel

The AXA group has started negotiations with Groupe des Assurances Crédit Mutuel (GACM) regarding the acquisition of its Spanish subsidiary GACM España. GACM España specializes in P&C and health insurance. The transaction is valued at 310 million EUR (305.262 million USD).

The deal, still pending the approval of the competent authorities, should be finalized in the third quarter of 2023.