Alexander Forbes acquires 60% of UK consulting actuaries firm

By Staff Writer for Alexander Forbes

Johannesburg, 07 Jun 2002

Alexander Forbes has acquired a 60% interest in UK consulting actuaries Lane Clark & Peacock (LCP) for lb27.6 million. It has a further option to increase its stake to 80% after 3 years.

Alexander Forbes says the deal values LCP`s entire business at about lb46 million.

It adds that under the terms of the proposal LCP has become a limited liability partnership (LLP), and it will continue to trade under the LCP name. Group chief executive, Graeme Kerrigan, and UK director, Dick Wood, will join the LCP Board.