CNP Assurances completes the sale of its Spanish life insurance subsidiary

CNP AssurancesCNP Assurances has finalized the sale of 100% of its Spanish life insurance subsidiary's capital to the insurer Mediterráneo Vida. Called CNP Partners, the subsidiary is mainly specialized in marketing traditional savings products in Spain and Italy.

The transaction was valued at 126.3 million EUR (134.9 million USD).

The deal will enable the French group to further rationalize its activities in Europe.

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