Blackstone and DLJ Merchant to Sell Some Aspen Shares

Bermuda’s Aspen Insurance Holdings Limited announced that two of its shareholders, The Blackstone Group and DLJ Merchant Banking Partners, have agreed to sell a portion of their shareholdings.

Blackstone will sell 5,707,623 ordinary shares, and DLJ Merchant will sell 2,219,665 ordinary shares “in an underwritten public offering at a price to the public of $26.70 per share,” said the announcement.

Following the completion of the offering, The Blackstone Group and DLJ Merchant Banking Partners, a private equity investment affiliate of Credit Suisse, will own 5,707,625 ordinary shares of Aspen and 2,219,668 ordinary shares of Aspen, respectively.

Lehman Brothers is acting as the sole book-running manager for the offering. Aspen will not receive any proceeds from the sale of ordinary shares by The Blackstone Group and DLJ Merchant Banking Partners.