MDP to acquire majority stake in AmTrust's U.S. fee business
Madison Dearborn Partners has agreed to acquire a majority stake in AmTrust Financial Services' U.S-based fee businesses. The enterprise value of the deal is $1.15 billion. At the closing, AmTrust, a multinational insurance holding company, will receive gross cash proceeds of about $950 million and retain a 49 percent stake in the business. The transaction is expected to be completed in the first half of 2018. BofA Merrill Lynch is serving as financial adviser to AmTrust while Debevoise & Plimpton LLP is providing legal counsel. And, Kirkland & Ellis LLP is acting as legal adviser to MDP.
6 November 2017•6 mins read
