Deals
Liberty Mutual Weighs $1 Billion Sale of Europe Business
- US insurer may unload operations in Spain, Portugal, Ireland
- Company joins other American firms retreating from the region
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Liberty Mutual Holding Co. is exploring a sale of its businesses in Spain, Portugal and Ireland, according to people familiar with the matter, joining other American insurers retreating from the region.
The US insurer is working with Bank of America Corp. on the possible divestments, which could fetch more than 1 billion euros ($1 billion), according to the people, who asked not to be identified because the discussions are private. The assets could attract interest from rival European insurers, the people said.