Primerica Authorized The Abandonment Of Its Indirect Ownership Of Subsidiary E-Telequote Insurance By September 30, 2024; On August 30, 2024, ETQ Agreed To Sell About 18.9% Of Its Stock To A New Investor, Leading To ETQ Being Wholly Owned By This Investor Post-Closing, With Primerica Relinquishing All Rights In ETQ Without Consideration
Portfolio Pulse from Benzinga Newsdesk
Primerica has authorized the abandonment of its indirect ownership of its subsidiary, E-Telequote Insurance, by September 30, 2024. E-Telequote has agreed to sell 18.9% of its stock to a new investor, resulting in the investor wholly owning E-Telequote post-closing, with Primerica relinquishing all rights without consideration.
August 30, 2024 | 8:22 pm
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Primerica is set to abandon its indirect ownership of E-Telequote Insurance by September 2024, with E-Telequote selling 18.9% of its stock to a new investor, leading to full ownership by the investor.
Primerica's decision to abandon its stake in E-Telequote Insurance could be seen as a strategic move to divest from this subsidiary. This may lead to a short-term negative impact on Primerica's stock as investors react to the relinquishment of ownership without consideration.
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