Permira goes in for Retirement
SPECIALIST insurance group Just Retirement is calling an end to its stock market life after agreeing a £226million deal with private equity group Permira.
The company agreed to the 76p-a-share takeover after nearly a year of negotiations. Just Retirement floated at 148p a share in 2006 but Permira is offering investors the chance to continue holding shares in the firm.
Its offer values Just Retirement’s boss and co-founder Mike Fuller’s stake at £17million. Stockbrokers Panmure Gordon said the deal was a “sad end” for investors.