Canopius Group to sell Bermuda operation for $217m
Canopius Group has agreed a price for the private sale of Canopius Holdings Bermuda Ltd.
The group will receive $216.7m (£145.6m) from the sale of all 14,025,737 of its shares in Canopius Bermuda to a number of institutional investors.
The sale was agreed on 6 March, and is expected to occur in conjunction with the previously announced merger between Tower Group and Canopius Bermuda, subject to customary conditions.
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