Business
Why the PSC Insurance (ASX:PSI) share price is on the rise
The PSC Insurance Group Ltd (ASX: PSI) share price is on the rise, up 3.6% in morning trade. This comes after the company reported it has entered into agreements to acquire 2 commercial broking businesses based in the United Kingdom. At the time of writing, the PSC Insurance share price has retreated slightly to $3.35, up 2.1%.
What did PSC Insurance report on its UK acquisitions?
The PSC Insurance share price is gaining in morning trade after it reported it had entered into an agreement to acquire 100% of the share capital of Trust Insurance Services Ltd. Exclusive of net assets, the base consideration for the acquisition is around 15.5 million pounds (AU$28 million).
The base consideration for PSC’s second acquisition, 100%…
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