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PartnerRe purchased by Exor

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Magazine Issue: 
Low-cost is dead, long live ultra low-cost [3]
Magazine date: 
Jul 2015

After months of negotiations, Partner Re [4] ended up accepting Exor's offer. The Agnelli family holding company managed to convince PartnerRe that its purchase proposal was superior to that of the Bermudan reinsurer Axis Capital.

Exor will thus disburse 6.9 billion USD to complete the transaction with PartnerRe . The holding company will acquire the common shares of PartnerRe at a price of 137.5 USD in addition to a special dividend of 3 USD per share.

For its part, PartnerRe will pay 315 million USD to Axis Capital to cancel their initial agreement.

Tue, 04/08/2015 - 11:25

Source URL: https://www.atlas-mag.net/en/article/partnerre-purchased-by-exor

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