Under the terms of the definitive merger agreement, Sixth Street, Liberty Strategic Capital, J.C. Flowers & Co. LLC, and other institutional investors will acquire Enstar Group Limited, a prominent global insurance group. shareholders of Enstar will receive $338 in cash per share, which represents a $5.1 billion transaction. The agreement, as of July 26, 2024, corresponds to an approximate 8.5% premium to the 90-day volume-weighted average price (VWAP) of Enstar's shares. Upon the conclusion of the transaction, Enstar will maintain its current business strategy.
Enstar, listed on NASDAQ, specializes in capital release solutions and has a significant presence across Bermuda, the US, the UK, and other international markets. Since its establishment in 2001, Enstar has acquired more than 117 companies and portfolios, solidifying its market leadership in legacy acquisitions. Sixth Street, a global investment firm with over $75 billion in assets under management, will finance the transaction in collaboration with its co-investors. The firm, known for its flexible capital and data-driven strategies, has expressed confidence in Enstar’s management and looks forward to supporting the company’s ongoing strategy while maintaining its legacy in the reinsurance market.
