Hastings Direct authority Neil Utley bids for KBC Peel Hunt

Iain Dey and Matthew Goodman & , : {}

NEIL UTLEY, the businessman who done millions from the sale of his word empire, has emerged as a warn bidder for KBC Peel Hunt, the stockbroker.

Utley, the authority of engine insurer Hastings Direct, is between a handful of bidders by to the second turn of a sale routine being run by the stockbrokers primogenitor company, KBC, the Belgian bank.

The 48-year-old, who done his name as arch senior manager of Cox Insurance, was before a customer of the London broker.

KBC Peel Hunt is one of a series of resources put up for sale by the bank underneath orders from the European Commission as a low mark for reception state aid. Other bidders are thought to embody RHJ International, a Belgian firm that last year paid for Kleinwort Benson, the London in isolation promissory note group. The auction is approaching to interpretation in May.

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Utleys bid is believed to have been tabled by Hastings, nonetheless analysts contend it is doubtful he would combine a attorney with the word business.

It is accepted that Utley has not done any proceed to the government of KBC Peel Hunt and is traffic without delay with the Belgian primogenitor company.

The businessman has a successful jot down of shopping and offered insurers. In 2004, he was suspended from Equity Insurance Group after perplexing to lead a government buyout. He in the future paid for the commercial operation a year after with subsidy from Duke Street and Englefield, the in isolation equity firms.

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