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PSC buys WA insurance broker

Melbourne-based PSC Insurance Group has put a value of $7.7 million on the Western Australian arm of Australian Reliance, after announcing today it was buying the insurance broking group in multiple phases.

ASX-listed PSC said it had completed the purchase of 70 per cent of AR (WA) Pty Ltd and its subsidiary entity Reliance Workplace Solutions from Perth-based Australian Reliance.

PSC said the purchase price was $7.7 million for the shares and $1.35 million for loan assets.

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