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23 May 2012

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Tawa goes exclusive in $50mn Whittington M&A race

7 July 2011

UK-listed Tawa plc is in exclusive talks to buy Lloyd's turnkey managing agency Whittington, The Insurance Insider can reveal.

Tawa - controlled by French tycoon Francois Pinault - beat off shortlist rival Stone Point Capital-backed management buy-out bid supporting Whittington UK CEO Stephen Cane.

Cane is widely credited for having turned Whittington into the leading Lloyd's turnkey provider.

The two were the final bidders in the Aon Benfield-run auction after more than a dozen parties expressed an interest. The transaction...

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