The European Commission approves AXA's acquisition of GACM España

AXA has received the green light from the European Commission to acquire GACM España, a subsidiary of Groupe des Assurances Crédit Mutuel (GACM), through AXA Spain.

Announced by the French insurer in October 2022, the transaction is expected to be finalized during the third quarter of 2023. It is valued at 310 million EUR (340.2 million USD).

This acquisition should help the AXA group strengthen its presence on the Spanish insurance market.