Jardine Lloyd Thompson Group is to take a 25 percent stake in Spain's fourth largest commercial broker and construction specialist, March - Unipsa Correduria de Seguros (Unipsa), a subsidiary of Banca March, for EUR16.8mn (£14.mn).
In 2010 Unipsa had revenues of some EUR16.7mn.
The completion of the deal, which remains subject to Spanish regulatory approval, will see JLT merge its existing Spanish retail broking business JLT-SIACI Espana with the acquired business to create a new broker, March-JLT.
Following the transaction,...
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