Advent completes D&G buy

Advent International, a global private equity firm, has completed its £523.9m (US$762m) acquisition of Domestic & General following a successful offer for its shares listed on the London Stock Exchange.

Domestic & General was taken private by Advent shortly after pulling out of takeover talks with fellow FTSE 250 company Homeserve.

The deal is the first fully-financed public-to-private announced in the UK since the credit crisis began.

Advent’s previous investment in the UK financial services sector was in May of this year when it bought Lloyds’ TSB Registrars for £550m.