Enstar buys $92mn Dana asbestos unit

Enstar Group has acquired a subsidiary of Dana, an auto parts
manufacturer in Ohio, in a deal that marks its first acquisition of
a non-insurance business and includes liabilities such as asbestos
claims related to the acquired assets, the legacy heavyweight said
today.
The deal was structured as membership interest purchase, and
Dana said it received $91.5mn for its interest in the unit, with
the Ohio firm set to take a $72mn pre-tax charge to offload the
liabilities.
The assets...