U.S. investment firm JC Flowers has put its majority stake in French creditor protection insurance and mortgage broker Financiere CEP Group up for sale, Financiere CEP’s chief executive told Reuters.
“The process is on track,” Christiane Marcellier told Reuters by phone, adding that advisers JP Morgan and Messier, Maris et Associes were “working to help JC Flowers to be able to divest Financiere CEP from their portfolio”.
The deal is expected to close early next year, she said.
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