Southern bank Cadence selling insurance arm amid broking divestitures flurry
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Southern bank Cadence selling insurance arm amid broking divestitures flurry

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Southern bank Cadence is selling its insurance distribution business as financial services companies continue to capitalize on higher broking valuations, this publication can reveal.

Sources said the assets are being marketed off Ebitda of roughly $50mn and ~$165mn revenues, pointing to a potential valuation of $700mn-$750mn based on a 14x-15x multiple range.

It

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