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With approvals in hand, Grupo Sura set to close RSA Mexico deal by May 31

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With approvals in hand, Grupo Sura set to close RSA Mexico deal by May 31

Grupo de InversionesSuramericana SA said that its SuramericanaSA unit garnered the necessary regulatory approvals to acquire Royal& Sun Alliance Seguros (México) and expects to close the by the end of the month.

In a statement dated May 5, the company said that the ComisiónNacional de Seguros y Fianzas and the Comisión Federal de Competencia Económicahave approved the deal.

The statement confirms commentsby RSA Seguros CEO Francisco Oliveros, who in mid-April said the deal was on trackto close in May. Grupo Sura struck a £403 million deal to acquire 's operations inLatin America in September 2015.

Grupo Sura has already completed the acquisition of RSA's operationsin Colombia, , Argentina and Chile,with the remaining deals set to close in the coming months.