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...
You are currently viewing an incomplete version of this article. If you are a subscriber then please login now. If you are a non-subscriber but would like to be able to view this article, then please select from the purchasing options below.