Validus gets green lights to acquire Flagstone

Validus Holdings, Ltd. has announced that at an Extraordinary General Meeting of Shareholders approval was given by the shareholders of Flagstone Reinsurance Holdings, S.A. in all relevant matters to allow Validus to acquire Flagstone.

The overwhelming majority (more than 99%) of the shares voted at the meeting supported the proposed acquisition.

Validus has also announced that it has received all the necessary regulatory approvals for the acquisition of Flagstone Reinsurance Holdings, S.A. to go ahead.

The firm expects the acquisition to be completed before the open of trading on the New York Stock Exchange on 30 November 2012, subject to the satisfaction of customary conditions to closing.

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Category: Insurance News