Benfield enjoys US$54 million windfall from Montpelier Re sale
Benfield Group has undertaken an irrevocable agreement to sell its holdings of warrants with entitlement to 2,390,785 common shares in Montpelier Re. The transaction will complete on 15 March 2004.
Benfield will receive gross proceeds of US$54 million from the sale. In July 2003, Benfield raised net proceeds of US$27.7 million from the disposal of 947,479 common shares in Montpelier at a priceOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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