Announced
Financials
Tags
Majority
Friendly
reinsurer
multi-line reinsurance
Reinsurance
Bermuda
Private
Single Bidder
Acquisition
Failed
Domestic
Synopsis
Covea, a French mutual insurance company, abandons the planned acquisition of Bermuda-based reinsurer PartnerRe from investment group Exor for $9bn plus a cash dividend of $50m. "In light of the current unprecedented conditions and significant uncertainties threatening the global economic outlook, Covea has indicated to Exor that the context does not allow the contemplated acquisition of Partner Re to be carried out on the terms initially envisaged," Covea.
© COPYRIGHT 2024 MERGERLINKS LIMITED.
ALL RIGHTS RESERVED.
15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.