May 6, 2015

Drinker Biddle Represents Ironshore on Insurance Regulatory Matters in Acquisition by Fosun

Drinker Biddle’s Insurance Transactional and Regulatory Team assisted Ironshore Inc., a broker-sourced specialty commercial property and casualty coverages provider domiciled in Bermuda, on the regulatory aspects of its $1.84 Billion acquisition by Fosun International Limited, a Chinese investment group. 

On February 12, 2015, Fosun closed its purchase of ordinary shares of Ironshore representing 20 percent of Ironshore’s total outstanding ordinary shares on a fully diluted basis. The company has agreed to acquire the remaining interest in Ironshore that Fosun does not already own, which will be effected by the merger of an indirect wholly-owned subsidiary of Fosun with and into Ironshore. After giving effect to the merger, Ironshore will be an indirect wholly-owned subsidiary of Fosun International Limited.

The deal remains subject to regulatory approvals and other customary closing conditions.

View Ironshore’s press release, “Fosun to Acquire Remaining Interest in Ironshore,” here.

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