CARDIFF (dpa-AFX) - Car insurance provider Admiral Group Plc (ADM.L) announced Tuesday that it has terminated an agreement to form a joint venture and to combine Rastreator with Acierto, digital insurance brokers in Spain.
The company mutually agreed with Oakley Capital, MAPFRE S.A., and Asesor Seguros Online S.L. and Asesor Consumer Services S.L., collectively called as Acierto, to terminate the proposed deal.
The decision is due to challenges in completing the transaction within a reasonable timeframe, predominantly relating to antitrust complexity.
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