AUB will continue to apply its disciplined approach to its M&A strategy to acquire businesses that accelerate scale and growth
Image: AUB Group terminates agreement to acquire Coverforce. Photo: Courtesy of Free-Photos/Pixabay
AUB Group has today announced the termination of its conditional agreement with Pemba Capital Partners (Pemba Capital) to acquire Pemba Capital’s interest in Coverforce (Conditional Sale Agreement).
As previously announced, the Conditional Sale Agreement was conditional upon, among other things, delivery of due diligence materials to AUB as at the date agreed between AUB and Pemba Capital.
Delivery of due diligence materials to AUB has not occurred and AUB has not waived its right to due diligence. In consequence, and as the parties have been unable to reach agreement on an amended date for delivery of due diligence materials, the Conditional Sale Agreement has terminated.
AUB will continue to apply its disciplined approach to its M&A strategy to acquire businesses that accelerate scale and growth, leverage and expand its expertise in key insurance risk areas and market segments, whilst adding to its core capabilities.
Source: Company Press Release