Willis Group finalizes the acquisition of Gras Savoye

The London broker Willis Group which already owned 30% of the capital of Gras Savoye, finalized, on December 29, 2015, the purchase of the 70% remaining shares. The last transaction amounting to 510 million EUR (547 million USD) has allowed Willis, the third largest broker, to control 100% of the capital of its French competitor.

This transaction will enable Willis Group to gain a foothold in Africa, Eastern Europe, and the Middle East and especially in France where Gras Savoye has a strong presence.

After completing the takeover of Gras Savoye, Willis will merge with the American Towers Watson, in early 2016, to create a group weighing some 18 billion USD traded.