Reuters: Private Equity: Swiss Re team ahead for Groupama's Eurocourtage-sources

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Swiss Re team ahead for Groupama's Eurocourtage-sources Apr 24th 2012, 18:49 LONDON, April 24 | Tue Apr 24, 2012 2:49pm EDT LONDON, April 24 (Reuters) - Swiss Re and its private equity partners Apax and PAI are in pole position to acquire Groupama's GAN Eurocourtage unit for about 600 million euros, people familiar with the situation said. The Swiss reinsurance group teamed up with the private equity firms to give give the French regulator, Autorite de Controle Prudentiel (ACP), comfort about the long-term ownership of the business, the people said. Discussions between French mutual insurer Groupama and Allianz are also progressing after the German insurer recently improved its initial 200 million euros bid, the people added. (Reporting by Sophie Sassard. Editing by Victoria Howley.)

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