Aspen repurchase $100m shares from Candover
by David Masters
Story link: Aspen repurchase $100m shares from Candover
Bermuda-based Aspen Insurance Holdings Ltd. has announced that it has agreed to repurchase 4.1 million of its ordinary shares from management fund Candover Partners Ltd.
The repurchase, worth around $100 million, is part of Aspen’s $300 million share repurchase program. All shares repurchased will be retired.
Candover, one of Aspen’s founding shareholders, is to sell its 2 million remaining shares in an underwritten public offering.
Aspen’s CEO Chris O’Kane said Candover had been a ‘great owner’ and thanked them for all the support they had given.
Aspen provides property and casualty insurance among other services.
Add to Bookmarks: