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Europe Daily Bulletin No. 7764

24 July 2000
Contents Publication in full By article 17 / 38
GENERAL NEWS / (eu) eu/competition
Commission authorises acquisition of Aseguradora Valenciana by CGNU

Brussels, 24/07/2000 (Agence Europe) - The European Commission authorised the British insurance company CGNU Plc to acquire the Spanish company Aseguradora Valenciana Sociedad Anonima de Seguros y Reaseguros (ASDEVAL) from Caja de Ahorros de Valencia, Catellon y Alicante. The operation consists of the acquisition by CGNU of a 50% stake in Aseval for around GBP 100 million. The overlap of CGNU activities and those of Aseval in the field of insurance products is limited to Spain, Aseval not...

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