Ardonagh to buy MDS Group
The deal furthers the broker’s plan to expand its worldwide reach after revealing fresh investment from the Abu Dhabi Investment Authority earlier this month.
Ardonagh Group has drafted plans to acquire MDS Group, an insurance broker and risk management advisor based in Porto, Portugal.
Completion of the acquisition is subject to regulatory approval, and the deal will see MDS operate as part of Ardonagh Global Partners.
Ardonagh reveals it intends to fund the acquisition with a combination of equity and debt.
Des O’Connor, Ardonagh Global Partners CEO, commented: “It is a great privilege to partner with a distinguished and high-profile broking
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