JLT combines operations

Victoria
By Victoria January 3, 2012 22:49

JLT combines operations

Jardine Lloyd Thompson Group has combined its existing Italian broking business – Jardine Lloyd Thompson SpA – with the business of Marine & Aviation SpA. JLT has a 25% interest in the newly-formed joint venture, Marine & Aviation JLT. It has representation on the board with JLT senior employees forming part of the ongoing senior management team. As part of this transaction, JLT has also acquired a 25% interest in Marine Aviation & General (London) Ltd. The total consideration for the acquisition was JLT’s existing Italian business together with €5.4m, payable in cash on completion. In total Marine & Aviation’s operations generated net revenue of €9.5m in 2010 and produced a pre-tax profit of €1m.

Victoria
By Victoria January 3, 2012 22:49
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