Jardine Matheson increases JLT stake
Broker Jardine Lloyd Thompson has said its London-listed, Bermuda registered, Chinese founded backer Jardine Matheson is to take an extra 10% of the company for £166.27m.
Jardine Matheson will buy 21,734,665 JLT shares through its wholly-owned subsidiary JMHI, taking its stake to 40.35%.
Geoffrey Howe, chairman of JLT, said: "Jardine Matheson has been a supportive investor in JLT for many years. We believe that the partial offer reinforces Jardine Matheson's long term commitment whilst preserving JLT's independence and presenting shareholders with an opportunity to realise part of their investment at an attractive premium and to retaina substantial ongoing
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