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Apollo and HVAC finally released the details of the offer on Tuesday that Brit has published an update on its trading performance on the market.

The private equity firms offer to 871 m ￡ for Brit, a premium of 51pc of shares of the company back in June before the transaction was first announced as.

Of the agreement, Brit shareholders will receive a cash payment of ￡ signs a share.

However, they stand to receive up to 25 per cent share more if the net value of the tangible assets of the British at the end of the year is greater or equal to ￡ 11 per action.Si figure is lower at ￡ signs no extra payment will be made.

"I am pleased that we have reached agreement on the modalities of the offer of shares of Brit Insurance values at a significant premium", said John Barton, President of Brit Insurance.

Price of the shares of the Brit hit a maximum of 12 months aft of timeliness, closing up to 24 p to 10 h 45 ￡ Tuesday actions.

In an interim management statement, written gross premiums said Brit had refused to 8 5pc to. ￡ 1 in the nine months to 30 September, which the company said is the result of what he describes as "excessive pressure" 22bn renewal rates.

"Subscription remains competitive in most classes while the known group even better than expected investment returns," said Dane Douetil, CEO of Brit.Mr. Douetil and the rest of the management of the British team promised their support for capital investment companies offer private and number of independent directors of the insurer's it support.

British, who is best known as the promoter of the oval and cricket test match on Sky Sports, maintain her home to the Netherlands after the agreement, according capitaux.Les companies private limited companies have developed a set of companies focused on the Netherlands for the acquisition of the company.

No change of domicile is expected once the transaction is completed and private equity firms have confirmed they would be no change in the conditions of employment of staff of the company.

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