China's Fosun to buy Ironshore in US$1.84b deal
Fosun unit Mettlesome to combine with Ironshore to boost presence in insurance business
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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