Groupama sells Minster business
Groupama UK has confirmed that it has agreed to sell its Minster Insurance Services subsidiaries for an undisclosed sum to The Bear Stearns Companies Inc. Contracts were exchanged on 24th August 2006 and subject to regulatory approval and due diligence, the sale agreement is expected to complete by 31st December 2006.
Under the agreement, Bear Stearns’ subsidiary BSG Insurance Holdings will purchase the share capital of Minster Insurance Company and Minster Management Services, the specialist UK Group subsidiaries
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