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Interinsurance Exchange to acquire 50% of Motor Club Insurance

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Interinsurance Exchange to acquire 50% of Motor Club Insurance

California-based Interinsurance Exchange of the Automobile Club has proposed to acquire control of Motor Club Insurance Co. through the purchase of 50% of its issued and outstanding capital stock.

The acquisition will be executed pursuant to a stock purchase agreement dated June 20 between Interinsurance Exchange and Motor Club's ultimate parent, AAA Northeast.