Randall & Quilter Investment Holdings said a subsidiary had agreed to acquire general business insurance group Sandell Holdings for $25m. Further amounted were payable subject to certain conditions being met, the company said. Randall & Quilter said the purchase price represented a discount to the company's net assets which, at 31 December, were $40.8m. In the year to 31 December 2018 Sandell Holdings recorded a loss of $2.7m. 'This is another sizeable acquisition for R&Q following on from our recent completion of the Global Re deal,' executive chairman Ken Randall said. 'R&Q takes pride in providing finality for owners and we expect to announce a number of additional acquisitions during the rest of this year.'
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