AXA Taps Colombian Growth

AXA Taps Colombian Growth

Colombia Europe M&A

French insurance group AXA was seen paying a reasonable price to acquire control of Colpatria’s Colpatria Seguros insurance business, in a EUR259m ($346m) transaction that is the latest M&A deal in a busy and often expensive Colombian FIG sector. The move represents about 13x earnings, analysts say, which puts it in line with deals AXA and other global powers have done in the emerging markets. “It’s a reasonable and rather attractive transaction given the growth prospects in this market,” Daniel

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