Aspen Shareholders Complete Sale

Bermuda-based Aspen Insurance Holdings Limited announced that two of its shareholders, The Blackstone Group and DLJ Merchant Banking Partners, have completed their sale of 5,707,625 ordinary shares of Aspen and 2,219,668 ordinary shares of Aspen, respectively, in an underwritten public offering. The sale was first announced late last month (See IJ web site June 29).

Neither Group now owns any Aspen shares.

Credit Suisse, which runs DLJ Merchant as a private Equity venture, acted as the sole book-running manager for the offering. It will “offer Aspen’s ordinary shares from time to time for sale in one or more transactions on the NYSE, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices,” said the bulletin. “Aspen will not receive any proceeds from the sale of ordinary shares by The Blackstone Group and DLJ Merchant Banking Partners.”