Sixth Street closes $5.1 billion acquisition of Enstar

(The Insurer) - Sixth Street has completed the acquisition of Enstar Group Limited for $338.00 per ordinary share in cash, totaling an equity value of $5.1 billion.

Liberty Strategic Capital, JC Flowers & Co and other institutional investors also participated in the transaction, which was initially announced on July 29, 2024.

Following the acquisition, Enstar will become a private company and its ordinary shares will no longer be publicly listed.

Enstar has informed Nasdaq of its intent to withdraw its depositary shares from listing and registration, with plans to file a Form 25 Notification of Delisting with the SEC around July 14, 2025.

Enstar shareholders approved the acquisition at a special general meeting on November 6, 2024.

The company will continue its operations under the Enstar name as a standalone entity.

Enstar is a specialist in the acquisition and management of legacy insurance risk.

CEO Dominic Silvester described the deal's completion as "a major moment for Enstar as we begin our next chapter as a private company."

“Together with Sixth Street, we will build on our position as a leading global (re)insurance group, delivering innovative solutions to our partners and maintaining our competitive advantage," he said.