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Apollo weighs bid for Pension Insurance Corp
Private equity firm Apollo Global is weighing a bid for the Pension Insurance Corporation (PIC) in a deal that could value the company at about £5bn, Sky News city editor Mark Kleinman reported on Wednesday.
Apollo Global and PIC did not immediately respond to Reuters’ request for a comment.
Earlier this month, Bloomberg News, citing sources familiar with the matter, had reported that PIC was exploring a sale.
Privately held PIC, a specialist insurer of defined benefit pension schemes, is owned by shareholders including Luxembourg-based Reinet Investments and CVC Capital.
Reporting by Eva Mathews in Bengaluru; Editing by Shilpi Majumdar for Reuters.