Enstar buys back $341mn in shares from CPPIB
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Enstar buys back $341mn in shares from CPPIB

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Enstar Group has agreed to repurchase 1,597,712 of its own non-voting convertible ordinary shares from Canada Pension Plan Investment Board (CPPIB).

The shares comprise all of Enstar’s outstanding non-voting ordinary shares.

At $213.13 per share, this amounts to a purchase of $341mn, which is a 5% discount to the trailing 10-day volume-weighed average price of Enstar’s shares as of March 22.

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