Speculation surrounding the future of personal lines insurer esure Group plc has ended, as the Surrey-headquartered provider confirms it is being snapped up.
“The board is pleased to have reached agreement with Blue (BC) Bidco Limited, a wholly owned subsidiary of funds managed by Bain Capital Private Equity (Europe) LLP on the terms of a recommended all-cash offer for the entire issued and to be issued ordinary share capital of esure Group plc by Bidco,” said the British firm when it announced not only the £1.2 billion proposed acquisition but also its interim results for the first half of the year.
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