PartnerRe agrees sale with Exor
Wednesday, 08 05 2015, Category: Insurance and Reinsurance, Country: World
After months of persistence, Exor has finally come to an agreement with PartnerRe to acquire the Bermuda-based reinsurer for $6.9 billion.
Exor will acquire all of the outstanding common shares of PartnerRe for an all-cash consideration of $140.5 per share, including a special pre-closing dividend of $3.0 per share.
Following the termination of the agreement with Axis Capital, PartnerRe will now pay Axis $315 million.
Source: Intelligent Insurer