Willis Group has completed the acquisition of Gras Savoye to expand its reach and multinational client offering.
Willis has acquired the remaining 70 percent of Gras Savoye that it did not own. The transaction was completed 29 December, following acceptance of the offer in late June by Gras Savoye shareholders, consultations with workers’ councils and the receipt of regulatory approvals.
Gras Savoye and Willis will work together to expand reach and client offering, enabling clients to innovate and implement the right solutions to manage risk and people.
The acquisition creates an international network combining Willis’s global footprint with Gras Savoye’s strong presence in France, Central and Eastern Europe, and across Africa.
Gras Savoye, which will keep its name and brand, will also be a vital part of Willis Towers Waston.
Dominic Casserley, CEO of Willis Group, said: “This is the next step in a long and successful partnership, and we are delighted to be joining forces with Gras Savoye.”
“Gras Savoye will also play a crucial role in the new Willis Towers Watson, which is set to launch in early 2016, pending completion of the merger.”
François Varagne, CEO of Gras Savoye, added: “This is excellent news for Gras Savoye's 3,900 colleagues. With Willis we will offer greater opportunities across an increased range of client industries, specialties and countries.”
