Brit UK retail sale progresses
Brit Insurance is close to finalising the first round of the bidding process for its UK retail arm.
According to Postonline, the sale is being led by Evercore Partners, who were instructed by the Brit management to find a buyer for the retail business in the summer following the completion of the £888m takeover by Achilles Netherlands Holdings BV.
According to those who have seen the prospectus, the first round of bids closes at the end of November and includes the business currently handled by its Brit UK strategic business unit and its Financial Services Authority regulated company Brit
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