France's AXA to enter Colombian market
Wednesday, November 13, 2013
France's AXA Group is set to buy a 51 percent stake in Grupo Mercantil Colpatria's Colombian composite insurance unit for some $349 million.
Colpatria Seguros is Colombia's fourth biggest insurer with a market share of 7 percent.
The takeover is likely to close in 2014, subject to certain conditions.
Source: Business Insurance