China Re Group officially completes its wholly-owned acquisition of Bridge Society
|source: 浏览次数： Release time: April 12, 2019Views:|
On April 11, China Re Group issued an announcement that following the successful completion of the acquisition of 100% equity in Bridgeshaft UK Holdings, the company continued to complete the completion of the bridgeshaft Irish Insurance Company and the Australian holding company. At this point, China Re Group officially completed the wholly-owned acquisition of Bridge Group, which became an inseparable part of China Re Group and one of the important fulcrum of China Re Group's globalization strategy.
Headquartered in London, England, Bridge Society is a 100-year-old global (re) insurer and special insurance specialist. It ranks first in the Lloyd's market in the UK. In September 2018, China Re Group and the American Hanwei Insurance Group signed an equity purchase agreement, intending to acquire 100% equity of Bridge Society (including Bridge Society UK Holding Company, Bridge Society Ireland Insurance Company and Australian Holding Company). China Re Group completed the delivery of the main part of Bridge Society-Bridge Society UK Holdings on December 28, 2018, Eastern Time, and completed the delivery of Bridge Society Irish Insurance Company on February 14, 2019, Eastern Time. The completion of the Australian holding company was completed on April 10.
The acquisition of Bridge is a major achievement of China Re Group in accelerating its internationalization and implementing the "One Three Five" strategy, opening a new chapter in the globalization of China Re Group. The industry has set a benchmark for the development of globalization. This landmark acquisition is an orderly extension of China Re's layout of the Lloyd's platform, which will help to comprehensively improve China Re's global market position and ability to serve the "Belt and Road" initiative.
In this transaction, Yee On Securities acted as the financial adviser to China Re Group, and Sidley Austin Law Firm served as the legal adviser to China Re Group.
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