Private equity firms EQT AB, PAI Partners and Stone Point have been shortlisted in the bidding for German insurance brokerage Global Group, people familiar with the matter said.
Global Group, which is backed by buyout firm Castik Capital, could fetch a valuation of about €2 billion ($2.3 billion) in a sale, one of the people said. Deliberations are ongoing and the companies could still decide against a deal, the people said, asking not to be identified as the information is private.
Representatives for Castik, EQT and PAI declined to comment, while a representative for Stone Point didn’t respond to requests for comment.
Global Group operates in Germany, Austria, Switzerland, and the Netherlands, according to its website. Castik in 2023 acquired a stake in Global Group, which has been acquiring a slew of smaller insurance brokerage firms in recent years.
Photograph: Germany’s stock market index DAX; photo credit: Alex Kraus/Bloomberg
Topics Agencies
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