Alea accepts £162m offer from Fortress
Alea Group, the Bermuda-based insurer which was placed into run-off last year has received an offer from Fin Acquisition Limited. According to statements this morning, the Alea board accepted a £162m (93p per share) bid from the fund manager which is owned by Fortress Investment Group.
The news co-incided with Alea's 2006 annual results which revealed Net insurance premium revenue in 2006 of $215.9 million (2005: $1,086.7 million), with the reduction reflecting the impact of the
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