Financial services group Countrywide Assured is to build up its estate agency business through a tie-up with Friends Provident.
The group, which already owns the UK's largest estate agency chain Bairstow Eves, will acquire the life assurer's 104 agency sites for £21million.
Countrywide, based in Witham, has seen profits surge and was today celebrating halfway profits up 56 per cent, to £35.8million. Turnover in its estate agency division rose 20 per cent to £110.5million.
Managing director Harry Hill said: "The Friends acquisition strengthens our position as the UK's leading estate agency network."
Published Friday August 23, 2002
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