CPPIB to acquire 9.9 pct interest in Enstar from First Reserve
Canada Pension Plan Investment Board (CPPIB) has agreed to acquire approximately 1.9 million voting and non-voting ordinary shares of Enstar Group Ltd (Nasdaq: ESGR). The purchase represents about 9.9 percent of the company's total shares. Based in Hamilton, Bermuda, Enstar is an acquirer and manager insurance and reinsurance companies in run-off, and a provider of insurance-related management, consulting, and other services. The stake in Enstar is being bought from U.S. private equity firm First Reserve Corp. Last year, CPPIB agreed to buy another Hamilton, Bermuda insurance platform, Wilton Re Holdings Ltd.
1 June 2015•4 mins read
