Reuters logo
Goldman Sachs affiliate cancels Ebix purchase due to regulatory probe
June 20, 2013 / 12:06 AM / 4 years ago

Goldman Sachs affiliate cancels Ebix purchase due to regulatory probe

June 19 (Reuters) - Ebix Inc said it will not be bought by a Goldman Sachs Group Inc affiliate after the insurance software provider received a letter from a U.S regulator regarding an investigation into allegations of misconduct.

An affiliate in Goldman’s merchant bank had agreed to buy Ebix, which had been a target of allegations from short-sellers about inaccuracies in its financial statements, for $743 million last month.

Ebix said the termination was the result of a letter received by the company on June 14 from the U.S. Attorney for the Northern District of Georgia.

The company said it intends to continue to evaluate strategic options.

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below