UK - Promethean Investments acquires traded endowment policies business
Promethean Investments has acquired a 51% shareholding in TIS Group and a 51% shareholding in Protection Distribution Ltd (PDL). The financial buyer has invested £10m in cash and £40m in debt from its Promethean Investments Fund LP to facilitate the deal. TIS Group owns 100% of Absolute Assigned Policies Limited (AAP), which is the leading market maker in traded endowment policies (TEP).
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