Maiden Shareholders Approve Kestrel Merger
Maiden Holdings shareholders have approved all proposals for the company’s planned merger with Kestrel Group, with the deal expected to close in Q2 2025 pending regulatory approvals.
A spokesperson said, “Maiden Holdings, Ltd. announced that, at the special general meeting of Maiden shareholders held today, all proposals related to Maiden’s proposed business combination [the transaction] with Kestrel Group LLC [Kestrel] were approved by Maiden’s shareholders.
“As previously announced, on December 29, 2024, Maiden entered into a Combination Agreement [as amended, the Combination Agreement] with Kestrel, pursuant to which Maiden and Kestrel will become wholly owned subsidiaries of a newly formed Bermuda company [Bermuda NewCo], which will be renamed ‘Kestrel Group Ltd’. Following the closing of the transaction, Bermuda NewCo’s common shares are expected to be listed on the Nasdaq Capital Market under the symbol ‘KG’.
“The transaction remains subject to regulatory approvals and other customary closing conditions. Closing is expected to occur during the second quarter of 2025.”
Patrick J. Haveron, Maiden’s Chief Executive Officer, commented on the receipt of shareholder approval for the Kestrel Agreement, “Today’s voting results represent an important step forward towards our combination with Kestrel. The overwhelming shareholder support received for our proposals is gratifying as it advances us one step closer to significantly shifting the strategic vision and trajectory of our Company.”
