Leading offshore law firm, Conyers Dill & Pearman, has advised insurance specialist Lancashire Holdings Limited (“Lancashire”) on its placing to raise funds for the proposed acquisition of Cathedral Capital Limited (“Cathedral Capital”).
Charles Collis and Veronica Strande of Conyers’ London office advised Lancashire on the placing, which involved a Bermuda cash box structure to raise approximately £131 million.
The proceeds of the placing are being used to part fund the proposed acquisition by Lancashire from Cathedral Capital’s existing shareholders.
Willkie Farr & Gallaher (UK) LLP acted as English counsel to Lancashire, providing advice alongside Lancashire’s in-house legal team.
It was the first time Bermuda has been chosen as the offshore jurisdiction for the cash box SPV.