Akin Gump Advises CIFG Holding in Acquisition by Assured Guaranty
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(New York) – Assured Guaranty Ltd. (together with its subsidiaries, Assured Guaranty), the leading financial guaranty insurance company, announced that its subsidiary Assured Guaranty Corp. has entered into an agreement to acquire CIFG Holding Inc. (CIFG), the parent of financial guaranty insurer CIFG Assurance North America, Inc. Akin Gump advised CIFG in this matter.
The acquisition is expected to be completed mid-2016, subject to receipt of antitrust and insurance regulatory approvals as well as satisfaction of customary closing conditions. CIFG’s stockholders have already approved the acquisition for which Assured Guaranty expects to pay $450 million in cash.
The Akin Gump team advising CIFG was led by corporate practice head Kerry Berchem. She was joined by corporate partner David D’Urso, employee benefits partner Rolf Zaiss, corporate counsel John Howell, and corporate associates Tabitha Bailey and Andres Zambrano.
Founded in 1945, Akin Gump Strauss Hauer & Feld LLP is a leading international law firm with more than 900 lawyers in offices throughout the United States, Europe, Asia and the Middle East.
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