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Partnership set for £750m sale

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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