X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Alea Group, a Bermuda-based insurer that has been in runoff since late 2005, said Fortress Investment Group plans to go ahead with plans to buy the company, in spite of a shareholder vote not to proceed with a prior form of offer.

On April 4, the board of FIN Acquisition Corporation, a company formed at the direction of private equity funds advised by Fortress Investment Group, had announced its intention to pursue a cash acquisition of Alea Group Holdings (Bermuda) Ltd. that was to be implemented by means of a “statutory amalgamation”–a form of merger allowed under sections 104 to 109 of the Bermuda Companies Act.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.