Just Retirement Gets Approached

Just Retirement has confirmed it has been targeted by potential buyers.

The AIM-listed UK retirement specialist company is believed to have received an approach from a private equity firm, rumoured to be Cinven.

Cinven bought Partnership Assurance, a similar UK business, for €200m from Phoenix Equity Partners in June.

Just Retirement has been listed on the London Stock Exchange since 2006. It was previously backed by private equity firm Langholm Capital which still owns a 52% stake.

The company’s shares originally floated at 148p but have since slipped to around 55p. It currently has a market capitalisation of around £143m.

Source: Thomson Merger News