Britannic Market Value Soars After Pounds110m Deal Acquisition of Allianz Assets Boost for Scottish Sector
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Summary
BRITANNIC Group saw its market value jump by 10per cent yesterday, as it pulled off its first acquisition of a closed life fund in a Pounds110m deal which will bring welcome new funds into the hard-pressed Scottish sector.
The Pounds735m of assets being acquired from Allianz Cornhill will be managed by Britannic Asset Management in Glasgow, and the insurerwas hinting yesterday that it could be the first of a series of scalebuilding deals next year.See the full content of this document
Extract
Britannic Market Value Soars After Pounds110m Deal Acquisition of Allianz Assets Boost for Scottish Sector
It is more than a year since Paul Thompson, chief executive, laid out Britannic's aspiration to build a new leg to the business.
Thompson said yesterday:"This is an ...See the full content of this document
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