EXOR cashes in on PartnerRe with shock sale to Covéa


French mutual insurer Covéa entered into a Memorandum of Understanding (MoU) with holding company EXOR regarding the acquisition of Bermuda-based global reinsurer PartnerRe, which is wholly owned by EXOR. Under the terms of the MoU, EXOR would receive a total cash consideration of $9 billion plus a cash dividend of $50 million to be paid before closing.

EXOR, PartnerRe, Covea, Mergers & Acquisitions, Insurance, Reinsurance, Memorandum of Understanding, John Elkann, Europe

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