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Tawa to buy credit risk run-off firm
20 August 2010
Tawa, a UK-based insurance service provider and run-off investor, has entered into a share purchase agreement to acquire 94.3% of the issued shares of Island Capital, a run-off credit and political risk insurer.
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Tawa, a UK-based insurance service provider and run-off investor, has entered into a share purchase agreement to acquire 94.3% of the issued shares of Island Capital and its wholly-owned UK subsidiary, Island Capital Europe, for initial consideration of $7.4m and deferred consideration dependent on future financial performance of the company.
The aggregate of all consideration has been capped at...
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