Brit reaches agreement at £888m with bidders

Dane Douetil Brit Insurance

Brit Insurance has reached agreement with Apollo Management and CVC Capital Partners that will see the insurer’s shareholders receive up to £11 per Brit share. In a statement on the London Stock Exchange today, the parties stated that they have agreed the terms of a recommended cash offer to be made to Brit shareholders by Achilles – a new company incorporating Apollo Management and CVC Capital Partners. It values the company at around £888m.

Under the terms of the offer, all accepting

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