Bermuda-based Montpelier Re Holdings Ltd. announced that certain of its founding shareholders have completed their sale of an aggregate of 3,704,924 common shares of the Company to Goldman, Sachs & Co. at a price of $41.80 per share.
“The shares were sold under the Company’s Form S-3 shelf registration statement which was declared effective on February 23rd, 2004,” said the bulletin.
“The selling shareholders are Cypress Associates II (Cayman) L.P. and entities associated with it and DLJMB Overseas Partners III, C.V. and associated funds,” it continued. Last November the same entities sold 3,500,000 common shares of the Company to Credit Suisse First Boston LLC at a price of $36.65 per share.
Montpelier did not sell any common shares in the offering, and the selling shareholders will receive all of the net proceeds.
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