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UK's Chesnara to buy Waard Group, CEO to step down

Reuters - UK Focus

Dec 3 (Reuters) - Chesnara Plc (LSE: CSN.L - news) , an insurance-focused takeover specialist, said it would buy Waard Group for 67.8 million euros ($83.9 million) and that Chief Executive Graham Kettleborough would step down after Dec. 31.

Chesnara said it would fund the acquisition with its own cash and through the placement of up to 11.5 million new shares to raise about 35 million pounds ($54.8 million). ($1 = 0.8080 euros) ($1 = 0.6393 pounds) (Reporting by Richa Naidu in Bengaluru; Editing by Robin Paxton)