The London arms of US firms Sullivan & Cromwell and Kaye Scholer have scored the leading roles on Goldman Sachs' acquisition of a 50% stake in British motor insurer Hastings. The deal will see Goldman Sachs' merchant banking division acquire half of the voting share capital in the company for around £150m. The equity investment comes alongside a bond issue by the insurers that will raise around £420m, with the combined deals putting the company's value at around £700m.
October 16, 2013 at 07:03 PM
1 minute read
The original version of this story was published on Legalweek
The London arms of US firms Sullivan & Cromwell and Kaye Scholer have scored the leading roles on Goldman Sachs’ acquisition of a 50% stake in British motor insurer Hastings.
The deal will see Goldman Sachs’ merchant banking division acquire half of the voting share capital in the company for around £150m.
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