Bermudians continue to buy out founders
As well as buying in the open market, the trend for block
repurchases of shares - often from major founding or institutional
investors - gathered pace in 2010.
Most recently, PartnerRe bought back $99.5mn of its shares in a
privately negotiated transaction with an unnamed institutional
shareholder.
The shares were equivalent to 1.7 percent of the reinsurer's outstanding stock as at 30 September. The transaction follows its February 2010 $108mn buyout of interests from certain former Paris Re investors, after...
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