Global - Willis acquires Gras Savoye to expand global reach
Source: Middle East Insurance Review | Feb 2016
Willis Group Holdings has completed the acquisition of French insurance broker Gras Savoye, which will provide Willis access to high-growth markets across Central and Eastern Europe, the Middle East, and over 30 countries in Africa through a comprehensive network.
The transaction was completed in December 2015, following Gras Savoye shareholders’ acceptance of the offer in late June, consultation with workers’ councils, and the receipt of regulatory approvals.
In April 2015, Willis announced a US$590 million offer to acquire the remaining 70% of Gras Savoye that it did not own. Gras Savoye will continue to keep its name and brand.