Partnership set for £750m sale
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Private equity firm Cinven is preparing to sell Partnership Assurance for £750m, according to The Sunday Telegraph.
The newspaper reports that Cinven has spoken to four banks - Morgan Stanley, Goldman Sachs, Lexicon Partners and Deutsche Bank - and is now in the process of choosing a single adviser.
Were an auction to happen, Partnership is expected to receive interest from specialist insurers and rival private equity firms.
A Partnership spokesman says: “We do not comment on market speculation.”
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