A new stake transaction has pegged The Ardonagh Group to an enterprise value of approximately £1.9 billion (US$2.4 billion).
It has been announced that certain institutional investors and other minority shareholders of Ardonagh are selling their shares to investment funds managed by Madison Dearborn Partners, LLC (MDP) and HPS Investment Partners, LLC (HPS). The total consideration is £92 million (US$117 million) – a combination of £82 million (US$104 million) from MDP and £10 million (US$13 million) from HPS.
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