Announced
Financials
Sources
Tags
Guernsey
Public
Full Line Insurance
Acquisition
Pending
insurance underwriting
insurance services
Friendly
Scheme
Mbo
Private Equity
Single Bidder
Synopsis
Further Global Capital Management LP, is set to buy GBGI, end-to-end insurance company trading principally as The Global Benefits Group. The offer values entire company at $131.8m. The offer at $1.5 per share implies 38.2% premium to the closing price per GBGI Share of 84.5 pence. "Returning to private ownership will provide GBGI with enhanced financial and operational flexibility, together with savings relating to the costs which come from being a public company." William (Bill) Ward, GBGI Chairman.
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