Ardonagh in landmark deal to acquire Australian broker for A$2.3bn

Global broking heavyweight Ardonagh Group has agreed to acquire an Australian retail broking house, which operates 40 trading brands and manages over A$2.59 billion in global gross written premiums (GWP). The acquisition is valued at A$2.3 billion (approximately $1.51 billion). Ardonagh plans to finance the purchase through 50% equity and 50% debt.