MP asks who is backing US private equity group’s plans to acquire British mutual insurer
The insurer LV= will be taken over by a company based offshore in Jersey if members agree to deal orchestrated by US private equity firm Bain Capital that would see it lose its historic mutual status.
Bain has established a Jersey-based company called BCC Blake Bidco Ltd to carry out the takeover, according to correspondence between an independent expert and Gareth Thomas, a Labour MP and shadow minister of international trade.
