JLT To Cut Stake in Siaci For £25 Million
U.K. broker Jardine Lloyd Thompson Plc. has agreed to a realignment of its participation in French insurance broker Siaci, which will reduce its stake to 31 percent from 37 percent. It will receive a payout of £25 million ($37 million).
Siaci is restructuring, and will also reduce French investment group Francarep’s participation to 34 from 40 percent. Siaci management will increase their holdings to 35 percent.
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