Argenta receives final bids

The sales price for Argenta could be double the book value when the sales process is completed in the coming weeks. Bidding in the final round is due to close this week with China Taiping and Exin among those in the final round. Parties that have recently ended their interest include Hannover Re who has decided to look elsewhere to fulfil its desire for a Lloyd’s acquisition. Reports have speculated that the final price paid for the organisation could tip over the £100mn mark. Argenta CEO Andrew Annandale is likely to remain in place following the auction, which was closed to Lloyd's consolidators. If China Taiping goes through to complete the full bidding process it will be the first Lloyd’s business to be aquired by a Chinese based organisation.