Private equity house increases holding to 16%

Pamplona Capital Management has upped its stake in Chaucer to 16%, it is believed.

The private equity firm, which was caught in a bidding war for the Lloyd’s insurer with Brit over the summer, previously held a 9.99% stake. It has been waiting for FSA permission to up its holding.

Pamplona has previously said it wants to acquire up to 29.9% of Chaucer.

Chaucer declined to comment.

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