Mapfre SA (CATS:MAP) acquired 17.2% stake in Funespaña, S.A. (CATS:FUN) from Juan Valdivia Gerada, Ángel Valdivia Gerada and Wenceslao Lamas Fernández for €23.7 million in cash on December 29, 2014. Under the terms of the agreement, Mapfre paid €7.5 per share of Funespaña. Post transaction, Funespaña intends to make an offer for the shares it does not already own to take Funespaña private. Following the transaction, Juan Valdivia Gerada, Ángel Valdivia Gerada and Wenceslao Lamas Fernández submitted their resignation as members of the Board of Directors of Funespaña and Juan Valdivia Gerada will cease his executive functions in the company. Juan Antonio Aguayo Escalona, Fernando Torrente García de la Mata, Ignacio Escrivá de Romaní Morales-Arce of Cuatrecasas Goncalves Pereira acted as legal advisor for Mapfre.

Mapfre SA (CATS:MAP) completed the acquisition of 17.2% stake in Funespaña, S.A. (CATS:FUN) from Juan Valdivia Gerada, Ángel Valdivia Gerada and Wenceslao Lamas Fernández on December 29, 2014.