LONDON (Alliance News) - Barclays Bank PLC on Tuesday said it will act as sole global coordinator and bookrunner for the sale of 44.8 million shares in Sabre Insurance Group PLC via an accelerated bookbuild.
The shares represent 17.9% of Sabre's shares in issue and are being sold by equity funds advised by BC Partners LLP and Angus Ball. Sabre will receive no proceeds from the offering.
"The sale price of the shares and the final size of the offering will be determined after the books have closed," said Barclays.
Once the sale is complete, BC Partners will hold no shares in Sabre while Anguls Ball will retain a 1.8% stake.
Shares in Sabre Insurance closed up 1.1% at 274.00 pence on Tuesday.
Barclays (BARC)
Sabre Insur (SBRE)