PIB ends sales talks and reveals £400m debt raise
PIB Group has confirmed the end of “recent acquisition conversations”, drawing a line under the sales process with the comment that it is “appreciative of the attention it has received in the market”.
In April, Gallagher was tipped to win the race for PIB, with the deal said to be “80% done” and valuations of £3.75bn swirling in the market.
Speculation had been rife since March 2024 about PIB’s backers Carlyle and Apax wanting to cash in on their investments.
RelatedGallagher tipped to win the race for PIB News analysis: If PIB has reached an end game with Carlyle and Apax, what next? The Carlyle Group buys stake in PIB Insurance Brokers PIB sold to Apax fundsLast November, when it was
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