The transaction involved Evergreen Parent, L.P., an entity formed by private equity funds and managed by Stone Point Capital LLC, together with Barry Zyskind, Chairman and CEO of AmTrust, alomng with George Karfunkel and Leah Karfunkel (collectively, Karfunkel-Zyskind Family), acquiring approximately 45% of AmTrust’s issued and outstanding common shares that the Karfunkel-Zyskind Family and certain of its affiliates and related parties did not already own or control.

Jacob MacAdam commented: “We are proud to have advised on the take private of AmTrust. Utilising the combined skills of our private equity, insurance and regulatory experts we were able to successfully navigate our client through the Cayman Islands legal aspects of this unique transaction.”

The transaction values the fully diluted equity of AmTrust at approximately USD2.95 billion, excluding AmTrust’s preferred stock.

Share
Twitter LinkedIn Email Save as PDF
More News
1 Dec 2022 | News

Appleby leads in offshore fintech

Appleby has been ranked Band 1 for the firm’s work in the fintech sector in the BVI, Guernsey and ...

10 Nov 2022 | News

Appleby adds to total of top tier rankings in Legal 500 Caribbean 2023

Legal 500 Caribbean has ranked Appleby Tier 1 for nine practice areas and recognised 53 lawyers from...

25 Oct 2022 | News

Appleby leads on six jurisdictional chapters for Legal 500’s latest Mergers & Acquisitions (M&A) guide

Appleby has authored the chapters for Bermuda, the British Virgin Islands, the Cayman Islands, Guern...

29 Sep 2022 | News

Cayman Islands Regulatory Update – The Economic Substance Return filing deadline draws closer

In our latest economic substance briefing, Appleby and its affiliate Appleby Global Services remind ...

29 Sep 2022 | News

Updated Deregistration Rules for Cayman Islands Regulated Funds

The principal aim of the updates is to streamline the process for deregistering mutual funds and pri...

9 Sep 2022 | News

CRS Compliance Form Filing Deadline in the Cayman Islands – Are you ready?

The 15 September 2022 is the upcoming deadline for submitting the 2021 CRS Compliance Form with the ...

11 Aug 2022 | News

Over 30 Appleby lawyers and nine offices recognised in 2022 IFLR1000

36 Appleby lawyers across nine jurisdictions have been recognised in this year’s IFLR1000 rankings...

5 Aug 2022 | News

Cayman Islands Enforcement Guidelines: Common Reporting Standard and Economic Substance

An overview of the Cayman Islands Common Reporting Standard and Economic Substance Enforcement Guide...