Bermuda-based Endurance Specialty Holdings Ltd. announced the completion of the sale by two of its initial investors, Texas Pacific Group and Thomas H. Lee Partners, of 8 million ordinary shares in a block trade (See IJ Website May 6).
Goldman Sachs & Co. purchased the ordinary shares from Texas Pacific and Thomas H. Lee Partners and subsequently sold them to ordinary investors. They were sold pursuant to Endurance’s Form S-3 shelf registration statement and represented approximately 13 percent of the ordinary shares outstanding.
“Texas Pacific Group and Thomas H. Lee Partners each retain approximately 3.9 million ordinary shares. All of Endurance’s initial investors now own a total of approximately 32 percent of Endurance’s ordinary shares,” said the bulletin.
“Endurance did not sell or purchase any ordinary shares through Goldman, Sachs & Co. Texas Pacific Group and Thomas H. Lee Partners received all of the net proceeds from the sale,” the announcement concluded.
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