Brit sells control of Ri3K for £8.3m
Brit the international (re)insurer, has ended months of speculation by announcing that it has sold a 56 per cent stake in risk placement technology provider RI3K to a consortium of investors comprising, investment fund Eton Park LLP, investment banking and broking group Numis Corporation, IPGL Insurance Services Limited, a private holding company of which Michael Spencer, group chief executive of ICAP plc, is the major shareholder and Climate Exchange plc chief executive, Neil Eckert (the 'Consortium').
Brit said it will retain a 19.9% shareholding in the firm based on the once the deal is done.
The cash consideration payable to Brit Insurance upon the sale is £8.3m. Brit said it and the Consortium
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