Bloomberg News

Old Republic Sells Stake in Indemnity Unit in Leveraged Buyout

May 21, 2012

Old Republic International Corp. (ORI:US), the insurer that stopped backing home loans after capital ran short at the business, said it sold 20.6 percent of the Republic Financial Indemnity Group unit to investors in a partial leveraged buyout.

The deal is tied to a plan to spin off stock in the unit to Old Republic shareholders, the Chicago-based insurer said today in a statement distributed by PR Newswire.

To contact the reporter on this story: Noah Buhayar in New York at nbuhayar@bloomberg.net

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net


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Companies Mentioned

  • ORI
    (Old Republic International Corp)
    • $16.44 USD
    • 0.37
    • 2.25%
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