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Article: Aspen Insurance Holdings Announces Repurchase of $100 Million of Ordinary Shares from Founding Shareholder and Agreement to Sell Ordinary Shares by Founding Shareholder.
- Article from:
- PR Newswire
- Article date:
- May 14, 2008
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HAMILTON, Bermuda, May 13 /PRNewswire-FirstCall/ -- Aspen Insurance Holdings Limited (the "Company") today announced that the Company has agreed to repurchase approximately 4.1 million of its ordinary shares from Candover Partners Limited, one of its founding shareholders, and a trustee to a Candover employee trust. The ordinary shares are to be repurchased by Aspen for approximately $100 million.
The repurchase was executed as part of Aspen's $300 million share repurchase program. The ordinary shares will be retired once purchased.
In a separate transaction, Aspen also announced today that Candover Partners Limited has agreed to sell approximately 2 ...