Peter Cullum pulls Towergate sale
by Matthew Rock & Real Deals - Monday, 31st March 2008 -
Entrepreneur behind insurance broking giant backs off sale to Candover.
The founder of Towergate, Peter Cullum, is understood to have cancelled the sale of a 25 per cent stake in the insurance broker to Candover.
Candover had been interested in acquiring the shareholding, valued at an estimated £850m (€1.08bn), ahead of the company's proposed flotation.
Talks are believed to have collapsed last week amid concerns over the availability of funding.
Related tags: insurance broker, towergate, candover, peter cullum, insurance, entrepreneur, sale,
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