The investment fund Astrog enters Gras Savoye's capital

Astorg, Willis and Gras Savoye's family shareholders have concluded an agreement enabling Astorg to get into the capital of Gras Savoye by acquiring 33.3% in voting rights and 32% in financial rights. The remainder of the capital and of voting rights will be identically distributed between Willis and the family shareholders. This acquisition will be financed by an indebtedness of about 150 million EUR. Willis and the family shareholders will in addition provide 100 million EUR each. Gras Savoye managers will have control over 4% of the capital. In 2015 Willis will have the possibility to acquire 100% of Gras savoye.