General Atlantic LLC signed an agreement to acquire 33.84% stake in Hyperion Insurance Group Limited from B.P. Marsh & Partners PLC (AIM:BPM) and 3i Group plc (LSE:III) for £75.2 million on March 27, 2013. Under the terms of the agreement, General atlantic agreed to pay £29.2 million in cash to B.P. Marsh for its 11.04% stake and £46 million to 3i Group plc for its 22.8% stake. On completion, B.P. Marsh will retain a 2.76% stake in Hyperion subject to a call option arrangement ... which will allow General Atlantic to purchase B.P. Marsh's remaining stake of 1.4 million A ordinary shares of Hyperion at £5.2 per share. Part of the proceeds of the transaction will be used to finance a B.P. Marsh’s loan to Hyperion. Hyperion reported revenues of £110 million for the year ending September 2012. The transaction is subject to FSA approval, competition clearance in Germany and regulatory clearance in Texas, Spain and Singapore together with B.P. Marsh shareholder approval. Hugh Morgan and Fred Walsh of Panmure Gordon & Co. plc acted as financial advisors to B.P. Marsh. Redleaf Polhill and Emma Kane of PR Adviser acted as public relations advisors to B.P. Peter Kempe and Martin Yells of Taylor Wessing acted as legal advisors and Marsh. Evercore Partners Inc. acted as financial advisors to Hyperion Insurance Group Limited. Ashley Prebble, Matthew Ellis, Rebecca Goldie and Cathryn Teverson of Norton Rose LLP acted as legal advisors for General Atlantic LLC.
Read More

Sponsored Financial Commentaries

To contact B.P. MARSH & PARTNERS, please visit . Company data is provided by Capital IQ. Please use this form to report any data issues.

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.