Announced
Financials
Tags
Acquisition
Single Bidder
Private Equity
Pending
Private
Merger
Majority
Friendly
Insurance Brokers
insurance brokerage services
France
Cross Border
Synopsis
Burrus Group, an insurance agency, agreed to merge with Siaci Saint Honore, an independent French insurance broker, for $2.96bn. Ontario Teachers’ Pension Plan Board will lead the investor consortium and acquire a 30% stake in the combined group, becoming the largest institutional shareholder. Bpifrance and Cathay Capital will acquire a 10% and 5% stake respectively. “We share common values and a wealth of opportunities. This merger will generate new possibilities and the implementation of ambitious growth plans built on large business synergies,” Pierre Donnersberg, Siaci Saint Honore CEO.
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