Helvetia buys majority stake in Spain's Caser for 780 mln euros
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ZURICH (Reuters) - Swiss insurer Helvetia has acquired a 70% stake in Spanish insurer Caser for 780 million euros (658.09 million pounds) to expand its European business, it said on Friday.Helvetia has reached an agreement with various shareholders to buy their equity stakes and other shareholders have the option to sell their shares to the firm on the same conditions, it said.Spanish banks Bankia and Liberbank said in separate statements they had sold stakes in Caser for 166 million euros..