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RPT Mapfre to take over Mutua Valenciana Automovilista business


Published : Fri, 26 Jan 2007 16:32
By : Agencies
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(Repeating to clarify that company involved is Mapfre not Corporacion Mapre)

MADRID (AFX) - Mapfre SA said it has signed a statement of intent with Mutua Valenciana Automovilista to take over the mutual society's insurance business.

In a statement, Mapfre said Mutua Valenciana's core motor insurance unit will be absorbed into Mapfre Automoviles while the remainder of its operations will go to other Mapfre affiliates.

Mapfre added both parties will agree legal and financial terms for the deal in accordance with independent auditors.

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jdy/tw

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