Appleby Acts For Aspen In $2.6B Sale Process

August 30, 2018

Appleby Bermuda said they “acted for Aspen Insurance Holdings Limited during a competitive sale process [valued at c. $2.6 billion] which was won by private equity firm Apollo Global Management LLC.”

“The team was led by Partner Alan Bossin with assistance from Partner Matt Ebbs-Brewer and Associate Josephine Noddings. It is forecast that this acquisition will take Aspen to the next level, benefitting Bermuda’s [re]insurance industry,” the law firm said.

Earlier this week, Aspen Insurance Holdings announced that they have “entered into a definitive agreement under which Aspen will be acquired by the Apollo Funds.”

Under the terms of the agreement, which has been approved by Aspen’s Board of Directors, the Apollo Funds will acquire all of the outstanding shares of Aspen for $42.75 per share in cash, representing an equity value of approximately $2.6 billion.

Aspen said, “The transaction is expected to close in the first half of 2019, subject to approval of regulators and Aspen’s shareholders and the satisfaction of other closing conditions. Consummation of the transaction is not subject to any financing contingencies.

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  1. Correct says:

    Surprised these guys are still in business after all that drama over confidential data disclosure! Just goes to show that these jokers don’t take cyber security seriously!