LV= in exclusive takeover talks with Bain Capital
LV= has confirmed that it is in exclusive discussions regarding a potential transaction involving Bain Capital.
"Discussions between LV= and Bain Capital are on-going and there can be no certainty that any transaction will be agreed"
In a statement, LV= said: "LV=’s Board’s focus is on maximising long-term value for its members and ensuring the business continues to be operated in their best interests, following the disposal of the general insurance business.
"Discussions between LV= and Bain Capital are on-going and there can be no certainty that any transaction will be agreed, nor any certainty as to the terms on which any such transaction might proceed."
Earlier this week, Royal London was reported to be in talks to acquire LV=. Sky News reported that while discussions were not exclusive, the two mutuals were in 'advanced stage' talks.
In a statement released on Monday, LV= said: “Discussions are on-going and there can be no certainty that the discussions will result in any transaction being agreed or with whom."
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