15th Jul 2019 11:43
(Alliance News) - Financial services investor BP Marsh & Partners PLC on Monday announced a GBP800,000 investment into an Australian company.
BP Marsh has paid AUD1.5 million, or approximately GBP817,000, for a 36% stake in Agri Services Co, and may pay a further GBP628,000. It didn't specify the criteria for making this extra payment.
Agri Services is a holding company which will now buy the entirety of Ag Guard Pty Ltd, an Australian insurance firm focused on the agricultural sector.
BP Marsh Chief Investment Officer Dan Topping said: "The investment in Agri Services sees BP Marsh backing a strong and experienced management team in a business that is capable of becoming a serious market player over the next five years.
"We look forward to helping them grow their business."
BP Marsh shares were 2.1% higher on Monday morning in London at 290.98 pence each.
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