Administrator Grant Thornton has sold the motor breakdown policy database of collapsed firm Warranty Holdings to RAC Warranty.
Warranty Holdings is the sales and administration subsidiary of Oriel Investment Corporation and was placed into administration in March 2004.
The sale, which went through for an undisclosed sum, includes potentially additional revenue dependent on the type and level of business resulting from the disposal to RAC Warranty, said Grant Thornton.
Grant Thornton partner Ipe Jacob, said: “Those people who purchased policies through Warranty Holdings should welcome this sale. RAC Warranty is one of the foremost organisations in this business and its policies are backed by a panel of the largest insurers in the UK.
“The sale ensures that those members will be offered continuing warranty cover when their current policies run out.”
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