Mortgage News
Just Retirement recommends private equity deal
Just Retirement has recommended a buyout offer from private-equity firm Permira to acquire its firm for almost £230m.
Under the deal, Permira-backed investment vehicle Avalon will pay 76p per share for the specialist life insurer, and will inject £25m into the business.
In a statement, Tom Cross Brown, chairman of Just Retirement, said that the commitment to inject £25m into the company demonstrates a willingness to support Just Retirement in its future growth.
He said: “Therefore, the Independent Committee is pleased to recommend Avalon’s Proposal.”
Sponsored
Your First Home: confidence to build
Sponsored by Halifax Intermediaries