Axa enters negotiations to acquire GACM España
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Axa enters negotiations to acquire GACM España

Aisling Finn
18 October 2022
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Axa Spain has entered exclusive negotiations with Groupe des Assurances du Crédit Mutuel for the potential acquisition of its subsidiary Groupe Assurances du Crédit Mutuel España (GACM España).

GACM España is a predominantly P&C and health insurer in Spain, and, under the terms of the acquisition, Axa will acquire the subsidiary for a cash consideration of EUR310mn ($305mn), representing a price-to-own funds multiple of 1.0x.

Axa

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