Fosun Agrees to Acquire PE-backed Ironshore for $1.8B+
May 05, 2015
Fosun (HK: 00656) has agreed to acquire the remaining 80% ownership interest that it does not currently hold in Ironshore, a provider of specialty commercial property and casualty insurance. The agreement runs through March 2016 and will involve Fosun paying at least $1.84 billion (upward of $2.1 billion based on date of closing). Ironshore has previously received backing from a number of PE firms such as Irving Place Capital, Calera Capital, GTCR and TowerBrook Capital Partners. Fosun acquired a 20% stake in February.