Towergate's NPIB acquisition set for 2012 conclusion

People in a contract negotiation

Pending the satisfactory outcome of due diligence and any legal work, the Yorkshire Building Society (YBS) board - which is responsible for NPIB - is expected to approve the sale in October, ahead of completing the deal.

A Towergate spokesperson refused to comment on the timescale. Yesterday, the broker confirmed it had entered into a period of exclusivity with NPIB following the signing of heads of agreement.

Ahead of any potential acquisition, Insurance Age understands NPIB is arranging

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