Bain Capital offers to buy Australia's Insignia Financial for $1.7b

Bain Capital offers to buy Australia's Insignia Financial for $1.7b

FILE PHOTO: The logo of Bain Capital is displayed on the screen during a news conference in Tokyo, Japan October 5, 2017. REUTERS/Kim Kyung-Hoon/File Photo

Australia’s Insignia Financial said on Friday it has received a non-binding takeover all-cash proposal from private equity Bain Capital, valuing the 178-year-old wealth manager at A$2.67 billion ($1.70 billion).