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The takeover last year was a significant piece of InsurTech M&A.
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The HGGC-backed broker’s latest acquisition specialises in trade credit.
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Sources have emphasised that such pauses are a routine part of the Phase II review process. -
Phase II reviews conducted by the supranational body can take up to 135 days to complete.
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The two PE firms each take a 30% stake in the business, alongside Arch management.
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The broker's latest report also reveals a consideration of $330mn for Bollington.
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Michael Burwell, Gene Wickes, Carl Hess and Joseph Gunn will each receive a payment for staying with the business until the deal closes.
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Executives reiterate the mid-single expansion guidance announced in March, despite growing organically by 1% in 2020.
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The modeller had reportedly been the subject of an $86-per-share bid from real estate analytics firm CoStar prior to its $80 deal.
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Bryte has also granted an underwriting binder for its entire corporate property book to Sapphire Risk Transfer.
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The acquisition will sit within the group’s advisory segment alongside the Towergate regional network.
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In a joint submission, the intermediaries argue that the deal will not reduce market competition in New Zealand.
