Randall & Quilter to Acquire Insurance Subsidiary of BHP -- Deal Digest
20 August 2020 - 4:59PM
Dow Jones News
By Jaime Llinares Taboada
ACQUIRER: A wholly owned subsidiary of Randall & Quilter
Investment Holdings Ltd.
SELLER: BHP Group Ltd.
TARGET: The World Marine & General Insurance Company PLC
PRICE: Not disclosed.
STATUS: Agreed, subject to regulatory approval.
RATIONALE: WMG is an insurance company of BHP. Current market
conditions are causing companies to look closer at the capital tied
up in their captives and BHP is one of the companies with whom
R&Q is discussing exit or restructuring solutions.
QUOTATION: "This is our second executed acquisition agreement
for a U.K. insurer this week, demonstrating R&Q's reputation as
a counterparty of choice in the U.K. market. We are expecting to
announce further transactions in the coming period," Paul Corver,
Head of M&A at R&Q, said.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
August 20, 2020 02:44 ET (06:44 GMT)
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