Brit management offered 10% incentive package
Brit Insurance's management will own almost 10 percent if
the Apollo-CVC buy-out succeeds, but will have restricted access to
profits because of a rare financial instrument controversially used
in the takeover of English football team Manchester United.
In the offer document, it was revealed that Brit's management
and staff - headed by CEO Dane Douetil - will own up to 9.5 percent
of the insurer.
However, it is largely an incentive of "jam tomorrow" because the private equity firms will...
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