B.P. Marsh sells Besso stake to BGC Partners
Deal values broker at £70.5m.
B.P. Marsh & Partners has agreed to sell its entire 37.94% shareholding in Lloyd's broker Besso Insurance Group for cash to BGC Partners.
The overall deal will see BGC Partners become the sole owner of Besso which is currently valued at £70.5m.
B.P. Marsh has invested in Besso for 21 years and detailed that the final price for its shareholding will be agreed after completion of accounts which is expected by 31 March.
The venture capital investor further explained that the current valuation puts
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