Bridgepoint in Talks to Sell French Broker Kereis to Advent
Bridgepoint Group Plc is in exclusive negotiations to sell French broker Kereis to buyout firm Advent International, according to a statement released by the companies on Wednesday. The deal, which is expected to be valued at more than €2 billion ($2.3 billion) including debt, is the latest in a wave of insurance deals in Europe as the industry continues to consolidate.
The terms of the potential deal have not been disclosed, but people familiar with the matter indicate that the price will exceed €2 billion. The acquisition is seen as a significant move in the European private equity landscape, with Advent International being a major player in the industry.
This development follows a trend of consolidation in the European insurance sector, with various firms engaging in mergers and acquisitions to strengthen their market positions. The deal is expected to have significant implications for the industry, given the size and scope of the transaction.
