UK Insurer Expands with Uruguay Purchase

UK Insurer Expands with Uruguay Purchase

Europe M&A Uruguay

UK-based financial services firm Old Mutual has agreed to acquire a majority stake in AIVA, an Uruguay-based family-held business with over $800m under management, it says. The two have had a distribution relationship and been connected for more than 15 years, says Old Mutual, which plans to leverage AIVA’s broker relationships. Their shareholders had long been discussing ways to grow the partnership, say people familiar with the transaction. Old Mutual declined to elaborate further on its speci

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