BP Marsh & Partners PLC - London-based venture capital investor in financial services businesses - Will sell a 19% stake in Kentro Capital Ltd for a cash consideration of GBP51.5 million to US-based insurance intermediary, Brown & Brown Inc. The disposal is subject to approval from the Financial Conduct Authority.
Kentro Capital is a London-based insurance industry investment group. BP Marsh first invested in Kentro in August 2014, with an initial equity investment of GBP1.5 million for a 5.0% shareholding.
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By Sabrina Penty, Alliance News reporter
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B.p Marsh (BPM)