Australia's PSC Insurance agrees $1.51 bln takeover by UK's Ardonagh

PSC Insurance

08/05/2024 08:30

May 8 (Reuters) - Australia's PSC Insurance  PSI.AX 
said on Wednesday it has entered a binding scheme implementation
deed for UK-based insurance distribution platform Ardonagh Group
to buy the firm in a deal that values the company's equity at
A$2.3 billion ($1.51 billion). 

($1 = 1.5211 Australian dollars)

 (Reporting by Roushni Nair in Bengaluru; Editing by Savio
D'Souza)
 ((Roushni.Nair@thomsonreuters.com;))