Cinven is set to begin the process to offload its majority-owned annuities provider Partnership Assurance, Financial Times reports. The private equity group is in discussions with Morgan Stanley, Goldman Sachs Group, Deutsche Bank and Lexicon Partners with the aim of putting up Partnership for sale in the next year or two. The seller is expected to get a total of around £750 million from the transaction, adds The Telegraph. Cinven acquired its stake in Partnership in 2008 by paying approximately £174 million.
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