M&A

M&A

Arthur J. Gallagher acquires remaining 9% stake in Gallagher Insurance Brokers for Rs.40-Cr

BSE Disclosure  

Edelweiss Financial Services Ltd has in the second tranche, transferred the remaining 9% of the stake held by the company in Gallagher Insurance Brokers Pvt Ltd (GIBPL - earlier known as Edelweiss Gallagher Insurance Brokers Ltd) by Arthur J. Gallagher & Co. (AJG) for INR 39.55 crore. Post transaction, AJG owns 100% in the equity share capital of GIBPL. GIBPL was incorporated on February 8, 2000. For the financial year ended March 31, 2021, GIBPL had turnover of INR 63.11 crore.