Alea Eyes Capital Options
By Lisa S. Howard
NU Online News Service, Sept. 24, 10:30 a.m. EDT--?Alea Group officials would not comment on rumors that the company is planning to conduct an initial public offering.
However, sources close to the company say that Alea is seeking to increase its capital at the end of the year and an IPO is one of the options under consideration.
Stephen Cane, CEO of Alea London Ltd., told National Underwriter that Alea is currently considering the amount of capital required to support projected business growth, although an amount has not been determined.
Rumors that KKR, the ultimate owner of Alea, is planning to sell Alea, are not true, according to Mr. Cane.
KKR bought Alea, formerly called Rhine Re, at the end of 1997.
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