Homburger advised a consortium led by Centerbridge Partners, L.P. on its acquisition of Canopius AG
On September 1, 2017, a consortium of investors (including Gallatin Point Capital LLC) (the Investors), led by private equity and credit specialist Centerbridge Partners, L.P., announced that it has reached an agreement with the Japanese insurance group Sompo Japan Nipponkoa Insurance Inc. to acquire Swiss based Canopius AG for USD 952 m, subject to certain conditions.
Sompo Japan Nipponkoa Insurance Inc. had decided to sell Canopius AG in the wake of its acquisition of the Bermudian specialty insurer and reinsurer Endurance Specialty Holdings Ltd.
The closing of the acquisition occurred on March 9, 2018.
Homburger advised Fidentia Fortuna Holdings, Ltd., an entity wholly owned by the Investors, on all Swiss law aspects of the transaction such as corporate, regulatory and financing matters. The Homburger team was led by partners Hansjürg Appenzeller (Corporate / M&A, Financial Services, Insurance), Jürg Frick (Financial Services) and Stefan Oesterhelt (Tax) and included associates Kevin M. Hubacher (Corporate / M&A, Insurance) and Simone Gloor (Financial Services) as well as paralegal Sandra Marti (Corporate / M&A).
Freshfields Bruckhaus Deringer LLP advised Fidentia Fortuna Holdings, Ltd. on the transaction.