Hashtag: #BusinessMergers

RA Invites Comment On KeyTech & CellOne Deal

RA Invites Comment On KeyTech & CellOne Deal

The Regulatory Authority of Bermuda is inviting the public to comment on the proposed KeyTech and CellOne deal, with the response deadline set for February 12th. Comments must reach the Authority no later than 4:00pm on 12 February 2016 to be considered. Comments can be sent to the Authority via email to kmasters@rab.bm, by post or by hand to: Kyle... Read more of this article

The Phoenix Stores Acquires Kodak Express

The Phoenix Stores Acquires Kodak Express

The Phoenix Stores Ltd. has acquired ownership and control of Kodak Express, the company announced today [Feb 1]. George Grundmuller, President and CEO of The Phoenix Stores Ltd. said; “This is an exciting time for our group as with the new resources attained, we are now in a stronger position to expand on the suite of products and services we offer... Read more of this article

Fitch Ratings: Consolidation Will Continue

Fitch Ratings: Consolidation Will Continue

Consolidation in the Bermuda insurance market will continue in 2016, albeit at a slightly slower pace than 2015, according to a new Fitch Ratings report titled ‘Bermuda 2016 Market Update’. “Fragile conditions in the global re/insurance market characterized by falling prices and weakening terms and conditions are pressuring earnings... Read more of this article

IBC Inc. To Acquire IBC Bermuda From BAS

IBC Inc. To Acquire IBC Bermuda From BAS

US-based firm IBC Inc. and a group of private investors including Glen Smith, Theo Klimatsidas, and Joe Costigan, Jr. today [Jan 25] announced that they have entered into an agreement to acquire IBC Ltd. in Bermuda. “Mr. Smith and Joe Costigan, Sr. were part of the original management team who started the local IBC Ltd. company in 1987 in partnership... Read more of this article

Aspen Announces Acquisition Of AgriLogic

Aspen Announces Acquisition Of AgriLogic

Bermuda-based Aspen Insurance Holdings Limited announced today [Jan 20] that it has acquired AgriLogic Insurance Services, LLC and certain affiliates [AgriLogic] for cash in a transaction that further diversifies its portfolio of specialty insurance business and complements Aspen’s strategy of building businesses which are founded on deep technical... Read more of this article

Fitch Rates ACE & Chubb Following Acquisition

Fitch Rates ACE & Chubb Following Acquisition

Following the acquisition of Chubb by ACE, Fitch Ratings has affirmed all the ratings for ACE Limited and its subsidiaries and the Insurer Financial Strength [IFS] ratings for The Chubb Corporation operating subsidiaries. Fitch has downgraded Chubb’s Issuer Default Rating [IDR] to ‘A+’ from ‘AA-’ and downgraded all other... Read more of this article

ACE Receives Approvals To Close Acquisition

ACE Receives Approvals To Close Acquisition

ACE Limited announced that it has received all regulatory approvals needed for closing its acquisition of Chubb, a transaction that will create the world’s largest publicly traded property and casualty insurer. The acquisition, announced on July 1, 2015 and valued at approximately $29.7 billion, based on the closing price of ACE Limited shares and... Read more of this article

VAonline.TV Set To Merge With Bermemes

VAonline.TV Set To Merge With Bermemes

Two well-known local online brands are about to become one, with VAonline and Bermemes set to merge and combine forces. “Vybez Alliance, started out as a pair of DJs in 2003,” said Qian Dickinson, a founding member. “We did parties about 5-6 nights a week across the Island. Music allowed us to have fun and bring people together. The... Read more of this article

Amlin Completes Merger Of Two Subsidiaries

Amlin Completes Merger Of Two Subsidiaries

Amlin plc, the specialist international insurer, announced the successful completion on January 4 of the cross-border merger of two of its insurance company subsidiaries, Amlin Europe N.V. and Amlin Insurance [UK]. “The combined post-merger insurance company is called Amlin Insurance SE, a European corporate entity [Societas Europaea] domiciled... Read more of this article

Beechwood Ltd Acquires Old Mutual Bermuda

Beechwood Ltd Acquires Old Mutual Bermuda

Beechwood Bermuda Ltd. announced the completion of its acquisition of Old Mutual [Bermuda], Ltd. ["OMB"], a Bermuda based provider of insurance and investment products with over $1 billion in assets, which closed for new business in 2009. “Beechwood, one of the largest providers of international investment plans, now has over $2 billion in total... Read more of this article

Two Largest Distributors Of Coffee Join Forces

Two Largest Distributors Of Coffee Join Forces

Convenience Coffee and CoffeeWorks have merged to form the largest business of its kind in Bermuda. The owners say that through economies of scale, the new business will be able to provide customers with an even higher level of service, offer a vast range of coffee, tea and other beverages, while maintaining the same level of prices, or even in some... Read more of this article

Appleby Advises Fosun On Ironshore Acquisition

Appleby Advises Fosun On Ironshore Acquisition

Appleby served as Cayman and Bermuda counsel to Fosun International Limited [Fosun] on its acquisition of the remaining 80% equity interest in Ironshore Inc. [Ironshore], by way of merger. The transaction successfully closed on 20 November 2015 and Ironshore is now an indirect wholly-owned subsidiary of Fosun International Limited. The Appleby global... Read more of this article

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