Chicago-based CNA Surety Corp. announced that the company tentatively has agreed to sell all of its financial interest in U.K.-based DeMontfort Group Ltd. to HCC Insurance Holdings Inc.
The agreement covers CNA Surety’s 34-percent ownership in the common shares and certain preferred shares and indebtedness of the DeMontfort Group. Terms were not disclosed. The transaction is subject to execution of a definitive agreement and receipt of U.K. regulatory approvals. CEO John Welch said “refinements” in the company’s “international strategy” led to the move.
Topics Mergers & Acquisitions
Was this article valuable?
Here are more articles you may enjoy.
World’s Largest Retirement Community Taps Muni Market to Help Build More Homes 
GEICO Sues Medical Firms in Florida, NY Over Alleged No-Fault Auto Fraud 
Catastrophe Bond Investors Told to Brace for Jamaica Payout 
Breaking: Florida Appeals Court Reverses $200M Jury Verdict in Maya Kowalski Case 
