Broker Network sells up to Towergate
The Broker Network has announced that it is to accept an offer from Towergate for the entire shareholding of the company. The offer, for 605 pence per share, values the company at approximately £95m.
Commenting on the deal, Grant Ellis, CEO of Broker Network said: “The Broker Network Board feels that the offer made by Towergate is in the best interests of the Broker Networks Shareholders and indeed in the best interests of the Broker Network business, its network members and its people too.
“Towergate is a major presence in the UK insurance market and joining forces with them presents Broker Network and its members with further opportunities to expand and prosper, which I’m very excited
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