Validus Holdings Ltd. will acquire all of the issued and outstanding shares of Flagstone Reinsurance Holdings S.A. The combined company will maintain Validus’ name, headquarters and executive management.
Flagstone Re says completion of the transaction, which is expected to occur in Q4 2012, is subject to customary closing conditions, including obtaining regulatory approvals and the approval of Flagstone’s shareholders. Validus has obtained agreements from investment funds associated with Lightyear Capital and Trilantic Capital Partners, which, collectively, own about 22.5 percent of the outstanding Flagstone shares, to vote in favor of the transaction.
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