December 20, 2007
Willkie client Allied World Assurance Company Holdings, Ltd announces purchase of a subsidiary of American International Group, Inc. holding 11,693,333 Allied World common shares.
On December 17, Willkie client Allied World Assurance Company Holdings, Ltd announced that it has purchased a subsidiary of American International Group, Inc. holding 11,693,333 Allied World common shares for an aggregate purchase price of $563.4 million. AIG is one of Allied World’s founding shareholders. These shares, which were purchased for $48.19 per common share held by the subsidiary, equate to approximately 19.4% of the company's common shares outstanding as of November 30, 2007. Allied World Assurance Company Holdings, through its insurance subsidiaries, is a global provider of insurance and reinsurance solutions, offering client service through offices in Bermuda, the United States and Europe. The transaction was handled by partners Steven Seidman, Jeffrey Hochman, Henry Cohn and associate Sean Ewen.
