Mutua Madrileña Automovilista, Sociedad de Seguros a Prima Fija is interested in acquiring stake in Compañía Española de Seguros de Crédito a la Exportación, S.A. Cía. de Seguros y Reaseguros (Cesce), Mutua's chief executive has publicly confirmed.. Spain is close to selling its 50.25% stake in Cesce in a deal that values the company at € 400 million, three bankers with knowledge of the deal said. Mapfre SA (CATS:MAP), Coface SA and at least one other international insurer, have expressed interest in the asset, the sources told Reuters.

"It's about to go down. There won't be any trouble selling it, there's a lot of interest in the asset," said one of the bankers. PWC is the financial advisor on the sale and Perez-Llorca is acting as the legal advisors for Spain.

Mapfre and Coface declined to comment and a spokeswoman for Cesce did not respond to a request for comment by Reuters.