Hannover Re to pay £142.5mn for Argenta

Hannover Re will pay more than £142.5mn ($177.5mn) for
Lloyd's managing agent Argenta, according to details revealed
in a Scottish newspaper.
Sources suggested that Exin, the high bidder in the process, had
offered in the region of £160mn, but the two sides were
ultimately unable to consummate a deal.
Banking sources indicated that Taiping Re had also made a bid in
excess of £142.5mn in the Goldman Sachs-run process.
The sale will net Argenta chairman Alasdair Locke - a promine