Wednesday, April 3, 2013

Investors target £ 600 m co-op insurance arm

21 March 2013 |By Newsdesk

Ex-Tory Treasurer supporting bid for co-op insurance business

An investment vehicle with support from funders including the former Conservative Party Treasurer Michael Spencer, is preparing a bid £ 600 m for the cooperative group general insurance arm, according to a report from Sky News.

Tungsten Corporation, which is led by Edmund Truell, founder of private equity firm Duke Street Capital, is still a formal approach make the co-op, but is understood to have made an informal expression of interest in acquiring the insurance business last year.

On Tuesday, insurance Times reported the sale of the co-op life insurance and asset management arm to Royal London, a mutual, other for £ 219 m.

The co-op is exploring a sale of the insurance operations as it tries to move forward with a proposed acquisition of 632 Lloyds Banking Group capital.

The Sky report added that the co-op is close to appointment of bankers to work on the sale of its remaining insurance operations with Deutsche Bank and another enterprise which is likely to work on a deal.

21 March 2013

19 March 2013

5 March 2013

5 February 2013

4 January 2013

11 December 2012

23 August 2012



Car Insurance



Car Insurance

Title Post: Investors target £ 600 m co-op insurance arm
Rating: 100% based on 99998 ratings. 5 user reviews.
Author: Unknown

Thank you for your coming

No comments:

Post a Comment

Google Sitemap Generator