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Sedgwick agrees to USD1.1bn private equity buyout

Sedgwick Claims Management Services, a US-based provider of insurance claims administration services, has agreed to be acquired by private equity firms Stone Point Capital and Hellman & Friedman for USD1.1bn (EUR816m).

Sedgwick is currently controlled by US title insurer Fidelity National Financial, leveraged buyout specialist Thomas H. Lee Partners, Evercore Capital Partners and other shareholders.

Fidelity National says it anticipates to book net proceeds of USD220m from the sale of its 32 per cent stake in Sedgwick.

Bank of America Merrill Lynch and Barclays Capital have committed to provide financing for the deal.

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