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10 Dec 2020

Stephenson Harwood advises management team of RiverStone Europe on US$750 million acquisition by CVC

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Law firm Stephenson Harwood LLP is advising the management team of RiverStone Europe, led by Luke Tanzer, on its acquisition by funds managed by CVC Capital Partners.

Canadian-headquartered Fairfax Financial Holdings Limited, which is listed on TSX, will sell all of its interests in RiverStone Europe for approximately US$750 million, with up to an additional US$235.7 million being payable to Fairfax post-completion under a contingent value instrument. OMERS, the pension plan for Ontario’s municipal employees, has also agreed to sell its interests in the company for an undisclosed amount.

Private equity firm CVC is acquiring RiverStone, the run-off insurance services provider, through its Strategic Opportunities Fund II. The fund, which focuses on businesses that are suited to longer-hold investments, will provide RiverStone Europe with the capability and opportunity for further growth. The transaction is subject to various regulatory approvals, and is expected to close in early 2021.

The Stephenson Harwood team was led by private equity partner Malcolm MacDougall, with support from senior associate Chris Manning, associates Rajiv Kakkad and Dafni Loizou, and employment senior associate Serena Foulkes.

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KEY CONTACT

Malcolm MacDougall

Malcolm MacDougall
Partner

T:  +44 20 7809 2625 M:  Email Malcolm | Vcard Office:  London

Serena Foulkes

Serena Foulkes
Senior associate

T:  +44 20 7809 2096 M:  +44 7867 393 432 Email Serena | Vcard Office:  London

Chris Manning

Chris Manning
Senior associate

T:  +44 20 7809 2403 M:  +44 78 2632 8384 Email Chris | Vcard Office:  London

Rajiv Kakkad

Rajiv Kakkad
Associate

T:  +44 20 7809 2814 M:  +44 7587 051 552 Email Rajiv Office:  London

Dafni Loizou

Dafni Loizou
Associate

T:  +44 20 7809 2834 M:  +44 7587 051 664 Email Dafni | Vcard Office:  London

MEDIA CONTACT

Rose Russell
Communications and PR executive

T: +44 20 7809 2961 
Email Rose