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Britannic gives up on finding a buyer

Britannic Group has accepted defeat in finding a buyer for the business as a whole blaming current market conditions.

The announcement opens the door to individual buyers being found for Britannic Asset Management, Britannic Retirement Solutions, Britannic Money and Britannic Assurance.

Britannic Group chairman Harold Cottam says: “As part of our strategic work we have explored a number of opportunities over the last four months and have concluded that in current market circumstances it is unlikely that full value can be achieved through an offer for the group as a whole. Consequently, discussions with potential parties have been discontinued.”

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