Following evaluation from its Board, R&Q has confirmed that it will be filing for a provisional liquidation in Bermuda and that it expects the previously announced sale of Accredited to Onex Corporation to be implemented through that process.
If you recall, on the 13th of June, R&Q released an update on the proposed sale of 100% of R&Q’s equity interest in Randall & Quilter America Holding Inc., the holding company of the Company’s program management business Accredited, to funds advised by Onex.
This announcement explained that Onex had provided R&Q with a proposed alternative transaction structure to that of the original sale that could be implemented if the closing conditions of the original sale were not satisfied.
