Permira seeks to takeover Just Retirement

Permira is considering a takeover of UK life insurer Just Retirement plc in a deal that could value the company at about £225m.

Shareholder Langholm Capital, which owns approximately 52.29% of the company through Langholm Capital Partners and Langholm Capital Co-Investment, is thought to be planning to accept an offer of 76 pence per share or more. Permira's offer is conditional on a number of factors, including the completion of due diligence.

Just Retirement has agreed to pay Permira £2.3m if the private equity firm submits an offer by 20 August and the company does not recommend it within three business days or accepts another offer.

As a result of takeover talks, stocks in the insurer went up 8.5% to 70 pence in trading that week.

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