Two investors completed the sale of an approximately 18.2% stake in Sabre Insurance Group plc for gross proceeds of £112.8 million.
Private equity funds advised by BC Partners LLP and Sabre co-founder Angus Ball, the latter on an agency basis through Banque Pictet & Cie SA, sold 45,501,806 ordinary shares in the U.K. private motor insurance firm for £2.48 apiece.
Sabre will not receive any proceeds from the sale.
Following the accelerated bookbuild, BC Partners and Angus Ball own roughly 14.5% and 4.3%, respectively, of Sabre's outstanding ordinary share capital.
Barclays Bank Plc acted as sole global coordinator and book runner on the offering.
