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New Deal


Announced

Pelican Ventures and J.C. Flowers to acquire Ariel Re from Argo.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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reinsurance business

Cross Border

Disposal

Single Bidder

Pending

Private Equity

Bermuda

Private

Friendly

Reinsurance

Majority

Acquisition

Synopsis

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Private equity firms Pelican Ventures and J.C. Flowers agreed to acquire Ariel Re, a reinsurance business, from Argo, an underwriter of specialty insurance and reinsurance products. Financial terms were not disclosed. "Ariel Re is well known in the reinsurance market, and we are confident the business will thrive as part of Pelican Ventures," Kevin J. Rehnberg, Argo CEO.

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