DLA Piper is advising Chinese conglomerate Fosun International Ltd. on a $1.8 billion takeover of U.S. insurer Ironshore Inc.
Shanghai-based Fosun will acquire the 80 percent in Ironshore it doesn’t already own. Fosun first bought 20 percent of the target company last August for $464 million. In a regulatory filing, Fosun said the deal would extend its insurance business from property, casualty and life insurance to specialty insurance, while also offering synergies in hedging currency risks, asset allocations and reinsurance.
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