ACE Puts Up $865M For ABA Seguros To Boost Mexican Biz

Law360, New York (October 18, 2012, 3:08 PM EDT) -- ACE Ltd. will fork over $865 million to Ally Financial Inc. for leading Mexican property and casualty insurer ABA Seguros, the buyer said Thursday, notching the ACE Group parent's latest move to build up its business in the burgeoning Latin American country.

The all-cash transaction is expected to close in the first half of next year pending regulatory approvals, ACE said, and will deliver value to shareholders within the first year.

In folding ABA Seguros into its portfolio, ACE fleshes out its mainly commercial offerings in...
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