Hashtag: #BusinessMergers
Apex Successfully Closes Deutsche Acquisition
Apex Group Ltd. has completed the acquisition of Deutsche Bank Alternative Fund Services [Deutsche Bank AFS]. “Adding $170 billion in assets under administration to the Group’s portfolio, the successful final close of the deal has solidified Apex as one of the world’s largest fund administrators,” the company said. “First... Read more of this article
Apex Group Announces Acquisition Of Ipes
Apex Group and Genstar Capital jointly announced the acquisition of Ipes, a leading provider of fund administration and other services to the private equity sector. “Adding $165 billion in assets under administration to the Group’s portfolio, this acquisition will bolster Apex’s private equity capabilities and depositary services across... Read more of this article
XL Group Approve Merger Agreement With AXA
In a filing with the Bermuda Stock Exchange [BSX], XL Group Ltd announced shareholders’ approval of the Merger Agreement with AXA. The filing stated: “XL Group Ltd announced today that its common shareholders have approved an agreement for AXA to acquire 100% of XL Group. “Total consideration for the planned acquisition would amount to approximately... Read more of this article
Sompo Completes Acquisition Of Lexon Surety
Sompo International Holdings, a Bermuda-based specialty provider of property and casualty insurance and reinsurance, has completed the acquisition of the operating subsidiaries of Lexon Surety Group LLC, which was first announced on January 3, 2018. Lexon, the second largest independent surety insurer in the U.S., is comprised of Lexon Insurance Company,... Read more of this article
Bacardi Completes Acquisition Of Patrón
Bermuda-headquartered Bacardi Limited announced the completion of a transaction that makes the family-owned company the sole owner of Patrón Spirits International AG and its Patrón brand, the world’s top-selling super-premium tequila. “The transaction, which was announced in late January, closed today and follows a successful relationship... Read more of this article
Athora Holding To Acquire Generali Belgium
Athora Holding will acquire Generali Belgium S.A., the Belgium-based subsidiary of international insurance group Assicurazioni Generali S.p.A. Cash consideration for the transaction will be approximately €540 million. The company said, “”Generali Belgium is today the 11th largest insurer in Belgium providing a broad set of insurance solutions... Read more of this article
Argo Group Announces Acquisition Of Ariscom
Argo Group International Holdings, Ltd., an international underwriter of specialty insurance and reinsurance products, today [March 13] announced it has acquired Italian specialty insurer Ariscom. Effective immediately, Matt Harris, head of ArgoGlobal’s European and Asian operations, will assume the role of Ariscom Managing Director. “Ariscom provides... Read more of this article
AXA To Acquire XL Group For $15.3 Billion
[Updated] AXA announced today that it has entered into an agreement to acquire 100% of XL Group Ltd, with the French company confirming that the total consideration for the acquisition amounts to $15.3 billion. Shareholders in XL will receive $57.60 a share, which represents a 33% premium to the company’s closing price on March 2, AXA said. AXA... Read more of this article
Assured Acquires Minority Interest In Rubicon
Bermuda-based Assured Guaranty Ltd., announced that its subsidiary Assured Guaranty US Holdings Inc. [AGUS] acquired a minority interest in Cadia [Malta] Limited [CML], the holding company of Rubicon Infrastructure Advisors [Rubicon]. Rubicon is a full-service investment banking firm active in the global infrastructure sector. Rubicon has advised on... Read more of this article
Butterfield To Acquire Deutsche Bank’s Business
The Bank of Butterfield today announced that it has entered into an agreement to acquire Deutsche Bank’s banking and custody business in the Cayman Islands, Jersey and Guernsey. The filing stated, “The Bank of N.T. Butterfield & Son Limited today announced that it has entered into an agreement to acquire Deutsche Bank’s banking and custody... Read more of this article
Fitch: Speculation Of More Re/Insurer M&A
The combination of continued competitive pressures, the effects of U.S. tax reform and catastrophe losses in 2017 is leading to speculation of more M&A among re/insurers in 2018, especially in the Bermuda market, says Fitch Ratings. According to Fitch, “Increasing scale and diversification resulting from mergers could increase the resilience... Read more of this article
Enstar To Acquire Full Ownership Of KaylaRe
Enstar Group has signed an agreement to acquire a further 52% stake in KaylaRe Holdings Ltd., the parent company of KaylaRe Ltd., a Bermuda-based, Class 4 reinsurer. Added to its existing 48% equity holding, the acquisition will give Enstar full ownership of KaylaRe. Enstar founded KaylaRe in 2016 alongside funds managed by Hillhouse Capital Management,... Read more of this article
