GAB Robins Australia has denied market rumours that its parent company is in talks to sell its operations outside the US for up to $244 million.

Local CEO Kieran Rigby told Sunrise Exchange News a British media report is “incorrect and has no basis”.

The report said the loss adjuster’s owner, Brera Capital, has appointed the Bank of America to conduct a strategic review of the business, and that a sale will occur within the next few weeks.

The UK is the biggest part of GAB Robin’s business outside the US. GAB Robins Australia employs more than 300 staff nationwide.

Mr Rigby says Brera Capital and Bank of America have a close relationship and work together on much M&A activity, but in this instance “it is a complete rumour”.

“Brera Capital have indicated that their goal is to continue investing in GAB Robins and I don’t expect that to change,” he said.