Sales negotiations news: Ryan Specialty Group to purchase Jubilee Holdings Group
The Ryan Specialty Group will acquire Jubilee Group Holdings, subject to regulator approval.
Jubilee Group Holdings and Ryan Specialty Group have concluded successful sales negotiations which will see the latter acquire the former, subject to regulatory approval.
The sale, which has been agreed for an undisclosed sum, will go ahead after the Financial Services Authority and Lloyd's give it the green light.
Rupert Lowe, chairman of the Jubilee Group, said that the move will bring significant benefits for the company and help it prosper going forward.
"The agreement marks an important milestone in the growth of Jubilee and provide us with the necessary economies of scale to achieve a greater operating and capital base," he added.
This view was reinforced by the chief executive of Jubilee Managing Agency Andreas Loucaides, who stated that the move is a natural progression for the company given its diversification in recent years.
International business negotiations recently resulted in the sale of beverage wholesale specialist Quinn's of Cookstown to Britvic Ireland.