CBL Corporation Ltd
(ASX:CBL) has set its sights on acquiring France’s largest producer of construction-sector insurance.
CBL is an international credit and financial risk insurer, and the French company they want to acquire is called ‘Securities and Financial Solutions Europe SA’ (SFS).
SFS also happens to be CBL’s largest client.
CBL expects to pay $143 million for this acquisition. And as part of this deal, CBL will also acquire IMS Expert Europe SA (which is SFS’s claims management operation). CBL says the deal is expected to complete by October, later this year.
CBL reported a net profit of $33.29 million at 31 December 2015.
