Capita has emerged as the favourite to buy Bluefin Advisory Services, according to The Sunday Times.
The report says that Capita has seen off interest in Axa’s advice business from several private equity bidders.
Axa confirmed it had appointed Fenchurch Advisory Partners last November to assist in the sale of Bluefin Advisory Services. Bluefin Insurance Group was not part of this review. Bluefin has more than 2,000 employees across 60 offices in the UK.
Initial reports said the business could be sold off for up to £100m. However The Sunday Times article says the business could fetch between £50m and £70m.