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Providence to Consider Selling Auto Insurance Segment

Jan 17, 2007 UK home credit provider Provident Financial is considering the sale of its non-core car insurance segment Providence Insurance, following approaches by unnamed third parties interested in purchasing the business.Provident Financial, which is also in the process of divesting its international business, has revealed that it will review whether greater share value could be achieved through the sale of Provident Insurance.Bloomberg has reported Merrill Lynch analyst Philip Middleton as valuing Providence Insurance at an estimated GBP188 million in a research note.....

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