Groupama ‘puts Carole Nash up for sale’
FRENCH insurance company Groupama has put its UK businesses up for sale, including the Carole Nash motorbike insurance arm which it bought for more than £80m five years ago.
According to industry title Insurance Times, Groupama’s chief executive Francois Xavier-Boisseau has instructed Deutsche Bank to sell all of its UK assets, which includes Carole Nash, Macclesfield -based Bollington Insurance Brokers and Lark Insurance.
The sale is part of a divestment of assets Groupama is undertaking in a bid to avoid downgrades of Groupama’s credit rating.
It is estimated that the combined businesses could fetch between £250m-£300m, with a trade buyer or a private equity firm among the most likely purchasers.
