第六街将以51亿美元收购Enstar Group

Global investment firm Sixth Street to acquire Enstar Group (NASDAQ:ESGR) for a total equity value of $5.1B, or $338.00 in cash per share.

The consideration represents a premium of ~8.5% to its 90-day average price as of July 26, 2024.

Sixth Street will acquire Enstar (ESGR) with Liberty Strategic Capital, J.C. Flowers & Co. LLC, and other institutional investors participating in the transaction.

The transaction is fully financed, with the full amount of equity being provided by Sixth Street, together with its co-investors, and Enstar (ESGR) agreeing to return ~$500M from its balance sheet to its shareholders.

The transaction, if approved, is expected to close in mid-2025.

"Enstar has a proven track record of delivering innovative legacy P&C solutions and capitalising on attractive opportunities in the reinsurance market, while maintaining a conservative balance sheet and strong risk management culture,” said Michael Muscolino, Co-Founder and Partner at Sixth Street.

Enstar (ESGR) stock has gained ~18% to $348.31 so far this year.