Ardonagh plans new debt for purchase of BGC’s insurance operations

By Sara Rosenberg

New York, May 26 – Ardonagh Group Ltd. plans to use debt and equity to fund its $500 million acquisition of the insurance operations of BGC Partners Inc., according to a news release.

Closing is expected in the second half of this year, subject to customary conditions, including the receipt of required regulatory approvals.

Ardonagh Group is a U.K.-based insurance broker.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.