14th Jan 2015 08:40
LONDON (Alliance News) - Randall & Quilter Investment Holdings Ltd Wednesday said it has reached a preliminary deal to sell R&Q Marine Services Ltd and the business of Synergy Insurance Services (UK) Ltd to specialist insurer Hiscox Group.
The agreement, subject to due diligence and contract, is part of its move to make a small number of business and asset disposals in the UK and the US in order to tighten its focus.
"These disposals do not signal any major change in direction for the group and are designed to ensure there is greater focus on the group's core strengths," Randall & Quilter said in a statement.
The deal is currently expected to complete within the first quarter.
Randall & Quilter shares were untraded on Wednesday. The stock closed at 122.00 pence on Tuesday.
By Samuel Agini; [email protected]; @samuelagini
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