Hogan Lovells advises Enstar as it announces agreement to be acquired by Sixth Street for US$5.1 billion

Press releases | 05 August 2024

Philadelphia, London, 5 August, 2024 – Global law firm Hogan Lovells is advising Enstar Group Limited (“Enstar”) (Nasdaq: ESGR), as it enters into a definitive merger agreement under which Sixth Street, a leading global investment firm, will acquire Enstar, with Liberty Strategic Capital, J.C. Flowers & Co. LLC, and other institutional investors participating in the transaction.

Enstar shareholders will receive a total of US$338 in cash per ordinary share of Enstar payable upon closing of the transaction, representing a total equity value of US$5.1 billion.

Enstar is a leading global insurance group that offers innovative capital release solutions through its network of group companies in Bermuda, the U.S., UK, Continental Europe, Australia, and other international locations. Enstar is a known leader in completing legacy acquisitions and has acquired more than 117 companies and portfolios since its formation in 2001.

The transaction, which has been unanimously approved and recommended to its shareholders by Enstar’s Board of Directors, is expected to close in mid-2025, subject to approval by Enstar’s shareholders, regulatory approvals, and other customary closing conditions. Following the close, Enstar will maintain its current operations and business strategy.

More information and transaction details can be found here.

The Hogan Lovells team was led by partners Bob Juelke (Philadelphia), Jessica Bisignano (Philadelphia), and Tim Goggin (London), senior associates Spenser Karr (Philadelphia), Eleanor Geraghty (London), and associates Annie Spencer (Denver) and Kayvon Paul (Philadelphia).