Done Deals

• UK insurer Prudential Plc has sold its Taiwanese agency distribution business, which represents 94 per cent of its in-force liabilities in Taiwan, to China Life Insurance Company for the nominal sum of NT$1. Prudential will invest £45 million for a 9.95 per cent stake in China Life through a share placing.

• Global consulting company Turner & Townsend has acquired Busby & Associates, a provider of cost project management services with operations in Houston and the south-west of the USA. The terms of the deal remain undisclosed.

• Blackstar, an investment company focused on South Africa, has acquired a further 25.47 per cent shareholding in Kulungile Metals Group (KMG), a processor, distributor and stockist of carbon steel, stainless steel and aluminium, for ZAR50 million (£3.45 million) in cash. Read more

• Private equity firm Graphite Capital has acquired a majority stake in timber window company The Performance Window Group (PWG), which reported sales of £10.6 million last year. Read more

• Fuel wholesaler Mabanaft has acquired Thomas Silvey, an independent fuel supplier in the South West of England. The deal follows the recent acquisition of Advance Fuels and the development of BWOC in the UK. The size of the deal remains undisclosed.

• Stylo chairman Michael Ziff has completed a rescue deal for part of the struggling shoe group that will see 3,000 jobs saved. 

• Leeds-based printing business John Blackburn, which trades as Blackburns and has a reported turnover of £30 million, has gone into administration. The management team, led by joint managing directors Andy Cowman and Nick Atkinson, has acquired the direct marketing arm of the business