AmTrust completes Republic Group purchase

Israeli finance and energy conglomerate Delek Group has sold its 66
percent stake in US insurance group Republic Companies Inc for
535mn shekels ($140mn) to AmTrust, the company announced today (19
April).
The acquisitive US insurer purchased the stake yesterday for
$35mn in cash, with the balance of $105mn given to AmTrust as a
seller's loan for a period of four years to be repaid in four
equal instalments at an annual interest rate of 5.75 percent.
Delek Group said...