FLAGSTONE REINSURANCE HOLDINGS, S.A. FILES (8-K) Disclosing Entry into a Material Definitive Agreement, Financial Statements and Exhibits
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ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.
On
The transaction closed on
A portion of the Purchase Price in the amount of approximately
The Purchase Price was determined on the basis of an estimated value of the net assets of Island Heritage and will be adjusted on a dollar for dollar basis in the event that the
In addition, the SPA provides that Flagstone, together with certain other shareholders, will indemnify the Purchaser for losses arising from certain breaches of representations and warranties under the SPA while the Purchaser will indemnify Flagstone and the other shareholders for any losses arising from a breach of the SPA by the Purchaser.
A copy of Flagstone's press release dated
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS. (d) Exhibits Exhibit No. Description 99.1 Press Release, datedApril 2, 2012 , announcing entry into a definitive agreement.
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