Announced
Financials
Tags
Domestic
Canada
property and casualty insurance
Single Bidder
Pending
Property and Casualty Insurance
Majority
Friendly
Acquisition
Public
Synopsis
Desjardins General Insurance Group, a cooperative financial group, agreed to acquire ICPEI Holdings, a Canadian property and casualty insurance firm, for $61m. "After careful deliberation, the Special Committee considers that the transaction represents the best available path forward for the company and its shareholders. The transaction will provide shareholders, other than the Rollover Shareholders, with immediate and certain cash value, while providing the company with additional flexibility to operate as a private company in the hands of a committed long-term investor," Sharon Ranson, ICPEI Holdings Director and Co-Chair.
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