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BP Marsh stake in Hyperion diluted by Windsor deal

Niche venture capital provider B.P. Marsh & Partners' stake in Hyperion Insurance Group will be diluted following an cash and share takeover of Lloyd's broker Windsor.

The deal is subject to regulatory approval. Windsor is an international Lloyd's broking group providing insurance and reinsurance broking services to businesses and private individuals.

The acquisition will be financed through a combination of cash and debt financing and the issue of new ordinary Hyperion shares to certain management shareholders of Windsor.

The issue of additional ordinary shares in Hyperion will result in B.P. Marsh's shareholding being diluted to 13.97%, from 16.19%, however the company's rights and protections as a major shareholder will not be affected by the transaction and Jonathan Newman will remain as the company's nominee director on the Hyperion board.

At 9:55am: (LON:BPM) share price was +0.5p at 91.5p

Story provided by StockMarketWire.com

01/06/2012