Mapfre Middlesea plc - Acquisition

On Wednesday 28 April Middlesea Insurance plc announced that it has reached an agreement with Corporacion Mapfre to acquire their 38.97% shareholding in Progress Assicurazioni Spa for a consideration whcih would not exceed Euro8.6 million. Middlesea already holds a 51% stake in this insurance company based in Sicily, with the balance held by Middlesea Valletta Life Assurance Co. Ltd. (10%) and other individual shareholders holding a mere 0.03%.

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