Ardonagh Group investors MDP and HPS have bought more shares in the business in a move which gives the organisation an enterprise value of £1.9bn ($2.4bn).
According to an Ardonagh statement the Ardonagh Group Investment funds managed by MDP and HPS have today agreed to acquire shares in the Group for a total consideration of £92m ($117m).
The transaction sees £82m ($104m) from MDP and £10m ($13m) from HPS) from certain existing institutional investors and other minority shareholders.
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