SC Insurance and Risk Services, SGPS, SA, a subsidiary of the Portuguese corporation Sonae SGPS, S.A. has agreed terms for the acquisition of approximately 14% of Cooper Gay (Holdings) Ltd with an option to increase its holding to 28%.

Commenting on the agreement, Toby Esser, chief executive officer of Cooper Gay said: “Sonae has been a close business partner of Cooper Gay for a number of years. I am therefore delighted that such a prestigious company has chosen to take a minority interest in Cooper Gay. Through this investment, Cooper Gay has secured its long-term future as an independent broking operation and gained the financial resources to support its strategic growth plans."

Completion of the transaction is subject to competition clearance and regulatory approval.

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