Bermuda-based AlphaStar Insurance Group Limited announced that it has repurchased all of the Company’s shares formerly held by various Goldman Sachs entities, amounting to 2,181,775, or 22.9 percent, of the 9,519,972 shares currently outstanding (net of 443,400 current treasury shares). It will hold the repurchased shares as treasury stock.
Stephen A. Crane, the Company’s Chairman, President and CEO, stated that “AlphaStar is very appreciative of the support that Goldman Sachs has given to the Company as its largest shareholder over the past several years. It was indicative of that support that Goldman was willing to work with us in conjunction with Goldman’s portfolio management objectives. We are pleased that, through the retirement of these shares, we have been able to create value by increasing the book value per share for our remaining shareholders.”
Was this article valuable?
Here are more articles you may enjoy.
‘Door Knocker’ Roofers Were Everywhere. NC Farm Bureau Saw an Opportunity 
UPS Ripped Off Seasonal Workers With Unfair Pay Practices, Lawsuit Alleges 
US House Bill Aims to End Private Flood Insurance Coverage Penalty 
New York Says Cab, Rideshare Insurance Rates to Rise 25% 
