Amadeusz Juskowiak

Sale tilney buys stake in us insurance broker

Sale Tilney Plc said it has purchased 80 pct of the ordinary share capital of B and R International Inc a US Insurance broker for 56 mln dlrs

Sale is paying 36 mln dlrs in cash on completion with the balance plus interest to be paid in equal instalments over the next six years

B and R posted pretax profit of 855000 dlrs in the year to Dec 31 1986 when it had net tangible assets of 563000 dlrs