Apollo-CVC offer accepted


The insurer has agreed the terms of the offer from Achilles, a newly incorporated company formed by Apollo and CVC.

Under the terms of the agreement, all accepting Brit Shareholders will be entitled to receive £10.45 in cash plus a contingent value payment of up to £0.25 in cash per share. In addition, entitled Brit shareholders, on the register of Brit Insurance on 22 October 2010, will remain eligible to receive the £0.30 capital distribution payable in cash on 7 December 2010.

John Barton

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