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China's Fosun to buy Ironshore in US$1.84b deal

Fosun unit Mettlesome to combine with Ironshore to boost presence in insurance business

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Published Mon, May 4, 2015 · 09:50 PM

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    Hong Kong

    FOSUN International Ltd, the investment arm of China's biggest closely held conglomerate, is planning a US$1.84 billion merger with Ironshore Inc after buying the shares it doesn't already own in the Bermuda-based insurer.

    Fosun's unit Mettlesome Investment 2 will combine with Ironshore to boost its presence in the insurance business, the Shanghai-based company said in a statement to the Hong Kong stock exchange on Sunday. The company completed the acquisition of a 20 per cent stake in Ironshore, it said in February.

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