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Advent hires Goldman to sell appliance insurer D&G -report

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(Globalpost/GlobalPost)

Feb 21 (Reuters) - Private equity firm Advent International has hired Goldman Sachs to help it sell British appliance insurer Domestic & General, in a deal that could fetch about 1 billion pounds, Sky News reported on Thursday.

Advent International, which took D&G private for 524 million pounds ($799 million) in 2007, was likely to pursue a sale of the company rather than opt for a stock market listing, Sky News reported on its website, citing insiders, though they said Advent was keeping its options open.

The sale process for D&G, which according to the company's website protects 7.5 million appliances, would be launched later this year, Sky News said.

Advent International could not immediately be reached for comment. Goldman Sachs declined to comment.

http://www.globalpost.com/dispatch/news/thomson-reuters/130221/advent-hires-goldman-sell-appliance-insurer-dg-report