24 December 2019
Admiral Group plc announces termination of agreement to form a joint venture and to combine Rastreator with Acierto, digital insurance brokers in Spain
Admiral Group plc (“the Group”) announces that it has mutually agreed with Oakley Capital, MAPFRE S.A. (“MAPFRE”), and Asesor Seguros Online S.L. and Asesor Consumer Services S.L. (together “Acierto”) to terminate the proposed agreement to form a joint venture to combine Rastreator Comparador Correduría de Seguros S.L. (“Rastreator”) with Acierto.
The decision is due to challenges in completing the transaction within a reasonable timeframe, predominantly relating to antitrust complexity.
For more information, please contact:
Admiral Group plc
Marisja Kocznur +44 (0) 29 2060 2034
Investors & Analysts
FTI Consulting
Edward Berry +44 (0) 20 3727 1046
Tom Blackwell +44 (0) 20 3727 1051