Investor owns 13.8% of broking group
Private equity firm BP Marsh is in talks to sell its 13.8% stake in broking group Hyperion.
BP Marsh, which specialises in investing in financial services start-ups, first invested in Hyperion in 1994. As of 31 July 2012 the stake was valued at £31.1m.
The news closely follows reports that fellow private equity firm 3i is in talks to sell its 23% stake in Hyperion.
BP Marsh said in a stock exchange anouncement: “[BP Marsh] notes the recent movement in its share price and press speculation and announces that it is in discussions with a potential acquirer of all the shares of Hyperion Insurance Group Limited, in which the company has an interest.
“Discussions are progressing at a normal pace, but there can be no certainty that these will lead to the company disposing of its interest in Hyperion’s shares.
“Further announcement(s) will be made as and when appropriate.”
BP Marsh is chaired by Brian Marsh (pictured).
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