Samsung to complete Canopius buy
Samsung Fire & Marine Insurance has struck a deal to buy the remaining shares in Canopius, alongside funds managed by global investment firm KKR, and Korea Investment Corporation, completing a process that started in 2019.
The South Korean insurer will take an additional 40.6% stake in Canopius out of the remaining 60%, increasing its total ownership to 80.6%.
KKR and KIC will hold 12.1% and 7.3% respectively.
The shares are being bought from holders including Fidentia Fortuna Holdings, the controlling consortium led by global private investment firm Centerbridge Partners.
SFMI first invested in Canopius in 2019, again in 2020 and then last year when its holding went up to 40%.
The transaction remains subject to
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