Truist agrees to sell rest of insurance unit for $15.5B
The all-cash sale is expected to close in the second quarter, the groups said. Truist's board voted unanimously to approve the deal.
Source: greensboro.com
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Stone Point and CD&R strike $15.5bn deal to acquire Truist
The enterprise value is around 18x Truist Insurance’s 2023 core Ebitda.
Source: insuranceinsider.com
US-based Truist to sell insurance brokerage unit to PE firms in $15.5b deal
Truist Financial said on Tuesday it has agreed to sell its insurance brokerage business to an investor group led by private equity firms Stone Point and CD&R, in a deal valued at $15.5 billion.
Source: dealstreetasia.com
Truist Insurance will be a 'more agile' firm under PE ownership: CEO Howard
The firm will have more flexibility around talent compensation and M&A activity.
Source: insuranceinsider.com
Truist agrees to sell rest of insurance unit for $15.5B
The all-cash sale is expected to close in the second quarter, the groups said. Truist's board voted unanimously to approve the deal.
Source: independenttribune.com