AXIS Capital £467.6 million acquisition of Novae Group

Overview:

• AXIS Capital Holdings has acquired Novae Group for £467.6 million.
• Novae Group is a Lloyds of London insurer.
• AXIS is a Bermuda based insurer and reinsurer.
• The deal saw AXIS offer 700p a share.
• The deal is expected to close in Q4 2017.
• Credit Suisse and Fenchurch Advisory Partners acted as financial advisers to AXIS. Evercore is advising Novae.

Sam Duke - Editor