Tawa buys PXRE US run-off for $114m
Tawa the UK-quoted non life run-off consolidator, has announced that it has entered into a stock purchase agreement with Argo Group to buy its US PXRE Reinsurance company for an estimated $114m in cash.
Tawa said the total consideration may be reduced by any pre-close dividend paid to Argo Group and is subject to adjustment following the calculation of the closing net asset value.
Tawa said the
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