Grupo Mutua continues acquisition spree taking 30% stake in EDM

Spanish insurer Grupo Mutua is taking a 30% stake in EDM with the possibility to increase it up to 51% by the end of the year. The transaction, already approved by the respective board of directors but expected to take place in the first quarter of the year, also contemplates the option for Mutua to acquire an additional 21% by the end of 2019, thus raising to 51% its stake in the business. EDM, with over €3.7bn in assets under management, and offices in Barcelona, Madrid, Luxembourg and...