Fosun completes strategic equity investment in Ironshore
01 February 2015
Kester Capital portfolio company, Ironshore Inc. (“Ironshore”), and Fosun International Limited (HKEx stock code: 00656, together with its subsidiaries, “Fosun”) announced today that Fosun has completed its purchase of ordinary shares of Ironshore representing 20 percent of Ironshore’s total outstanding ordinary shares on a fully diluted basis, pursuant to the previously announced definitive agreement. Ironshore will use all of the proceeds from the share issuance to fund repurchases of outstanding equity from existing equity holders, including existing long-term, private equity shareholders. After giving effect to Fosun’s equity purchase and Ironshore’s repurchase of outstanding equity from existing equity holders, Fosun will become the largest shareholder of Ironshore.
Kester Capital: firstname.lastname@example.org / +44 20 3747 5700
About Kester Capital
Kester Capital is a mid-market UK private equity firm investing in businesses with an enterprise value of £10-50 million. It was established in 2007 as Greenhill Capital Partners Europe, the European private equity arm of Greenhill & Co.