Canada Pension Plan Investment Board $1.1 billion acquisition of Ascot Underwriting Holdings

20/9/2016

Public acquisition

Value:

$ 1.1 billion

Status:

Completed

Date:

20/9/2016

Overview:

Canada Pension Plan Investment Board (CPPIB) has agreed a deal to acquire Ascot Underwriting Holdings from AIG for $1.1 billion.
The fee includes an initial $240 million in cash and a substantial recapitalisation.

Sam Duke - Editor

Jurisdiction:

United Kingdom

Deal type:

Public acquisition

Practice area:

M&A

Industry sector:

Insurance

Firms:

Debevoise & Plimpton

Party: Canada Pension Plan Investment Board (Acquirer)

Lawyers: Alexander Cochran, David Innes, James Scoville, Nicholas Potter

Freshfields Bruckhaus Deringer

Party: AIG (Seller)

Lawyer: George Swan

Travers Smith

Party: Ascot Underwriting Holdings (Target)

Lawyer: Chris Hale

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