Echelon Financial secures shareholder approval to sell insurance business to CAA
Echelon Insurance | January 24, 2019
Echelon Financial Holdings has revealed that its $175 million sale of Echelon Insurance to a subsidiary of CAA Club Group has been approved by the majority of its shareholders. Shareholders of the company met yesterday to vote over the sale of the insurance business. A release noted that the shareholders also approved a reduction in Echelon Financial Holding’s stated capital, to allow for special distribution to shareholders.