British CGU to Sell U.S. Business By Year-End

May 11, 2000

British insurance group CGU expects to sell its U.S. insurance business to one of about 10 potential buyers by year’s end.

The company will continue accepting offers of interest through May, narrowing the number that will go through due diligence to a select few. The business went up for sale in February when it announced a merger with Norwich Union, a British life insurer.

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