Sent Oct 18, 2022 5:03 PMUpdated October 18, 2022 at 6:06 pm
The reorganization of Crédit Mutuel’s activities in Spain makes us happy. AXA has entered into exclusive negotiations with Assurances du Crédit Mutuel (ACM) to buy its Spanish assets for 310 million euros in cash, the two companies announced Tuesday.
An additional price of up to € 20 million can be added to this valuation, which represents once the equity. This sum corresponds to the maximum amount that AXA will have to pay to sell its products, for ten years, in the network of TargoBank, Crédit Mutuel’s local bank.
