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AUB Group drops deal to acquire Pemba Capital's stake in insurance broker

AUB Group Ltd.'s deal to acquire 49% of Pemba Capital Partners Pty. Ltd.'s interest in Sydney-based insurance broker Coverforce Holdings Pty Ltd. has been terminated.

The termination was due to the failure of delivery of due diligence materials to AUB Group, one of the conditions of the conditional sale agreement. AUB Group and Pemba Capital were not able to reach an agreement on an amended date for the delivery of the materials.