Sixth Street completes acquisition of Enstar Group

Enstar Group (ESGR) announced the closing of its acquisition by investment vehicles managed by affiliates of Sixth Street for $338.00 in cash per ordinary share, representing a total equity value of $5.1B Liberty Strategic Capital, J.C. Flowers & Co., and other institutional investors also participated in the transaction. In connection with the closing of the transaction, Enstar notified The Nasdaq Stock Market, that Enstar intends to voluntarily withdraw its depositary shares, each representing a 1/1,000th interest in a 7.00% Fixed-to-Floating Rate Perpetual Non-Cumulative Preferred Share, Series D, par value $1.00 per share, and its depositary shares, each representing a 7.00% Perpetual Non-Cumulative Preferred Share, Series E, par value $1.00 per share from listing on NASDAQ and registration pursuant to Section 12(b) of the Securities Exchange Act of 1934. Enstar expects to file a Form 25 Notification of Delisting with the Securities and Exchange Commission on or about July 14, relating to delisting and deregistering of the depositary shares. Enstar has not arranged, and does not intend to arrange, for listing and/or registration of the depositary shares on another national securities exchange or for quotation of the depositary shares in a quotation medium. The transaction was announced on July 29, 2024, and approved by Enstar shareholders at the Company’s Special General Meeting of Shareholders on November 6, 2024. With the completion of the acquisition, Enstar’s ordinary shares will no longer be listed publicly, and Enstar will continue operations as a privately held, standalone company. The Company will continue to operate under the Enstar name.