Oval announces Allianz investment
Allianz Insurance has acquired a minority 10% equity share of broker, The Oval Group. The purchase will boost Oval’s ability to complete more of the growing number of acquisitions in their pipeline and allow some existing shareholders to take minor reductions in their shareholding.
Philip Hodson, CEO of Oval, said; "We are delighted to have such a strong partner in Allianz who have recognised the value of the Oval business. Oval has always looked to the long term and this is supported by Caledonia and our other major shareholders who have all maintained significant stakes in the business."
He added; "Oval is an independent business and aims to stay that way. We have just released an excellent set of financial results and with this increased investment from Allianz we will
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