Swiss Re (SSREY) announced an agreement to sell 11,647,217 common shares of Definity Financial Corp. (DFYFF) representing approximately 10.05% of the issued and outstanding Common Shares as of March 17. The Common Shares are being sold by Swiss Re Investment Holdings on an underwritten block trade basis at a price of C$56.20 per Common Share for aggregate cash proceeds of approximately C$655M. The Offering has been underwritten by CIBC Capital Markets and National Bank Financial and is expected to close on March 19. Immediately before the Offering, Swiss Re owned 11,647,217 Common Shares, representing approximately 10.05% of the issued and outstanding Common Shares. After giving effect to the Offering, Swiss Re will no longer hold any Common Shares.
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