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General Indemnity Group to buy majority stake in South Coast Surety Insurance

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General Indemnity Group to buy majority stake in South Coast Surety Insurance

Boston Omaha Corp. unit General Indemnity Group LLC entered into a unit purchase agreement to acquire a majority equity interest in South Coast Surety Insurance Services Inc. from South Coast's sole equityholder.

Boston Omaha is a public company engaged in several lines of business, including outdoor advertising and surety insurance. South Coast is a San Clemente, Calif.-based agency provider of commercial and contract surety bonds and surety products.

The unit purchase agreement contains a seller option, and a contingent buyer option, for General Indemnity to acquire the remaining equity interests in South Coast.