Willis offered to buy 70% of Gras Savoye, France's largest insurance broker, for $590 million.

(Bloomberg) — Willis Group Holdings Plc, the third-largest insurance broker, offered to buy the 70% of Gras Savoye that it doesn’t already own to expand in France, Eastern Europe and the Middle East.

Willis will pay 550 million euros ($590 million), a sum that includes the repayment of outstanding third-party debt, the London-based buyer said Wednesday in a statement.

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