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Three banks to fund Towergate war chest

    • Insurance Age staff

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Towergate is due to announce an £85m financing facility including a £45m war chest for its acquisiti...

Towergate is due to announce an £85m financing facility including a £45m war chest for its acquisition programme.

Peter Cullum, Towergate executive chairman, is due to announce completion of the deal with RBS, Lloyds TSB and Barclays within weeks.

Cullum said: 'This financing package from three leading UK banks will support our ambitious acquisition programme and allow us to take advantage of the acquisition opportunities we are currently pursuing. This financing has been made possible as a result

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