Enstar and Stone Point Capital Announce Exchange Transaction Involving Atrium and StarStone U.S.
Aug 14, 2020
The transaction is conditioned upon the closing of the previously announced recapitalization of StarStone
In the exchange, Enstar will acquire all of the Trident V Funds’ interest in the recapitalized StarStone
The Trident V Funds will receive a portion of Enstar’s indirect interest in
Enstar, the Trident V Funds and Dowling will retain their respective ownership interests in StarStone’s non-US operations (“StarStone International”), partnering in the run-off of this business.
The Trident V Funds continue to own approximately 9% of Enstar Group Limited’s ordinary voting shares.
Enstar is a NASDAQ-listed leading global insurance group that offers innovative capital release solutions through its network of group companies in
About Stone Point
Atrium is a long-established, leading specialist insurance and reinsurance business that has operated within the Lloyd’s market since the 1930s. Underwriting through Syndicate 609, Atrium manages a balanced portfolio, offering a wide range of specialist marine, energy, aerospace, non-marine and liability classes from its offices in
For further information about Atrium, please visit www.atrium-uw.com.
This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include statements regarding the intent, belief or current expectations of Enstar, Stone Point, Atrium and their respective management teams. Investors are cautioned that any such forward-looking statements speak only as of the date they are made, are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. In particular, Enstar and Stone Point may not be able to complete the proposed transaction on the terms summarized above or other acceptable terms, or at all, due to a number of factors, including but not limited to the failure to obtain governmental and regulatory approvals, failure to consummate the StarStone
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Source: Enstar Group Limited