the cnmc gives the green light to the purchase of 50 01 of seguros el corte ingles by mutua madr

The CNMC gives the “green light” to the purchase of 50.01% of Seguros El Corte Inglés by Mutua Madr…

Sumary of The CNMC gives the “green light” to the purchase of 50.01% of Seguros El Corte Inglés by Mutua Madr…:

  • During his speech, Garralda also referred to the extension of the banking insurance agreement that Mutua Madrileña has had with CaixaBank since 2011 to incorporate the network of the former Bankia.
  • The value of this operation is 650 million euros, a payment made by SegurCaixa Adeslas, of which Mutua owns 50%, so the cost for the insurance group is 325 million euros.
  • In this sense, Grupo Mutua will be represented on the board of directors of El Corte Inglés by its president and CEO, Ignacio Garralda.
  • The total amount of both operations amounts to 1,755 million euros.
  • Archive – The president of the Mutua Madrileña Group, Ignacio Garralda – Europapress In his speech before the general meeting of shareholders of Mutua Madrileña, Garralda recalled that this operation was announced by both companies at the end of 2021 and has also been approved by the General Management Insurance last March.
  • The president of Mutua Madrileña, Ignacio Garralda, announced this Friday that the National Commission for Markets and Competition (CNMC) notified the insurer on Thursday of the unconditional approval of the purchase operation of 50.01% of Insurance El Corte Ingles.

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