CORPORATE | 05.24.2022
Termination of the alliance with Unicaja
Today, UNICAJA BANCO, S.A. (“UNICAJA”) has informed MAPFRE of its decision to terminate the alliance for the production and distribution of life insurance and pension plans through the UNICAJA network from Caja Castilla la Mancha.
Notwithstanding UNICAJA having not formally notified the exercise of its right to a call option over the 50 per cent stake that MAPFRE holds in the company through which this alliance is articulated, CCM VIDA Y PENSIONES DE SEGUROS Y REASEGUROS, S.A. (“CCM VIDA Y PENSIONES”), it is hereby informed that the proceeds to be received by MAPFRE as a result of the sale of this stake will reach approximately 130 million euros.
This transaction will generate a result net of taxes for MAPFRE that will reach approximately 2 million euros, considering the financial statements at the close of March 31, 2022.
The transaction will be closed once the necessary administrative authorizations are received.