LV Chief Defends Controversial £530M US Takeover Plan

By Martin Croucher (November 12, 2021, 12:00 PM GMT) -- The boss of mutual insurer Liverpool Victoria has defended the proposed £530 million ($710 million) sale of the company to U.S. private equity giant Bain Capital Credit LP, in the face of growing concern from lawmakers and industry experts.

Mark Hartigan, chief executive of the company, has said that the offer by Bain was the only one of 12 bids put forward that would protect jobs and the LV brand.

The deal to buy the 178-year-old LV has been surrounded by controversy because the company will lose its status as a mutual insurer. Approximately 1.16 million members are due to vote on Dec. 10...

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