White Mountains to buy out Berkshire Hathaway stake
Bermuda-headquartered (re)insurance group White Mountains has announced today that it has signed an exchange agreement with Berkshire Hathaway to buy substantially all of the common of Berkshire Hathaway’s 16.3% stake in the firm in a cash and run-off swap worth approximately $836m.
Under the terms of the agreement, Berkshire Hathaway would exchange all or substantially all of its 16.3% stake in White Mountains for 100% of a White Mountains subsidiary, which will hold Commercial
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