STRUGGLING life company, Friends Provident, could sell off its investment company F&C and its wealth management arm, Lombard International, in a bid to raise funds.
The insurer, which is in talks with US private equity firm JC Flowers regarding a takeover, has struggled since the collapse in November of the proposed merger with Resolution, the closed life fund consolidator. It is believed the company is considering the sale of some of its assets in a bid to raise cash to fund the development of new business propositions in the UK. Friends Provident's board is today putting the final touches to an internal strategic review that will be published on Thursday. The group will also publish its full year new business figures on the same day. To comment...
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