Swiss Helvetia Buys €780M Stake In Spanish Insurer

Law360, London (January 27, 2020, 3:02 PM GMT) -- Helvetia will buy a controlling stake in Spanish rival Caser at a cost of €780 million ($860 million), the Swiss insurer has said, as it seeks to expand beyond its core market at home.

St. Gallen-based Helvetia said Friday it would take a 70% interest in Madrid-based Caser, but that it would not merge the company with its existing business in Spain.

Caser generated €1.6 billion revenue last year with most of that from its general business, Helvetia said. The deal, which is expected to close in the first half of the year, will require approval by regulators.

“The acquisition allows...

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