Hub
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Inside P&C’s morning summary of the key stories to get you up to speed fast. -
When a Grade A franchise like Hub refis at this kind of valuation, the read across to other assets is highly negative.
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Inside P&C revealed in late March that Leonard Green was one of the two remaining parties in the process, with an enterprise value of under $25bn, based on bids of ~16x just under $1.5bn of Ebitda.
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Inside P&C’s morning summary of the key stories to get you up to speed fast.
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Both of them bring decades of experience in the private client industry.
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Other names believed to have looked at the asset include CD&R, CVC and Hg, as the process reaches its latter stages.
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American insurance broker Hub International is working with investment bank Morgan Stanley to sell a minority stake in itself in a $25 billion deal.
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Sources said the Chicago-based retail broker is in the preliminary stages of work with the intention of securing an investment later in the year.
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Mule will work alongside Mary-Beth Hahn, who joined Hub in 2021 as complex risk practice leader.
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