Groupama to sell private equity arm

The troubled French insurer plans to boost its capital base and restructure by the end of the year after it was hit by the fallout of the sovereign debt crisis.

Groupama private equity is made up of Quartilium, Acto Capital and Acto Mezz and manages 16 funds. It was created in 1988 within Groupama's GAN Eurocourtage unit.

GAN was also put up for sale earlier this year and final bids are expected by the end of March.

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