Ardonagh will get up to £30mn in Broker Network sale

Ardonagh has sold its remaining stake in the Broker Network to
Nevada Investment Holdings 2, whose directors include Matthew
Raino, an executive of a Chicago-based private equity firm that
backed the formation of the selling group last year.
The transaction sent a 19.9 percent interest in the Broker
Network to London-based Nevada Investment for as much as £30mn
($41.7mn), according to a regulatory filing in the UK. The final
price will depend in part on subsequent business performance.
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