Culver to be sold to CCV arm for £6m
Culver Holdings has entered into a conditional agreement for the sale of its retail insurance broking subsidiary, Culver Insurance Brokers, to Protectagroup Acquisitions, a subsidiary of Cullum Capital Ventures.
On completion, CCV has agreed to pay £4m plus adjusted net assets when finally determined, less estimated intra-group balance of £1.75m. There is a deferred consideration of up to £2m dependent on CIB
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