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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