Trucordia To Secure $1.3 Bln Investment From Carlyle

(RTTNews) - Insurance brokerage player Trucordia Wednesday announced that it will receive a $1.3 billion investment from Carlyle Group Inc. (CG), a global Credit platform, as part of a strategic growth plan. The deal is expected to be finalised in June.

The deal will help the company lower its debt and make its leadership structure simpler by buying back shares from some of its current minority investors.

The deal values the company at $5.7 billion and will give the company long-term financial flexibility to explore various strategic opportunities.

In the pre-market trading, Carlyle is 0.84% higher at $45.65 on the Nasdaq.