International Financial Group Limited (IFGL) - parent company of RL360, Friends Provident International and Ardan International - has this morning announced a deal in which private equity firm Cinven will become its majority investor, succeeding long-term major partner Vitruvian Partners. The announcement comes after November last year, when International Investment exclusively covered IFGL group chief executive David Kneeshaw's response to rumours circulating that IFGL was up for sale. The deal - which is subject to regulatory approval - will see Cinven take over from Vitruvian and...
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