Mapfre, the Spanish insurer, has announced the payment of 446.8 million EUR (611 million USD) for the purchase of a 50% share in the insurance subsidiaries of the local deposit bank Caixa Catalunya. This acquisition is part of a joint venture between the two companies to develop insurance and pension products. Mapfre concluded similar deals with Caja Madrid, Bankinter, CCM and Caja Duero.
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