James River offering sees Shaw sell $167mn stake

James River investor DE Shaw's sale of 4.25mn common shares
in the Bermuda-based (re)insurer has closed, with the
private-equity and hedge fund manager agreeing to accept $39.41 a
share from underwriter Morgan Stanley.
The sale of the 14.5 percent stake held in various Shaw funds
brought the sellers about $167.5mn, James River said today in a
regulatory filing. None of the sale proceeds went to the
carrier.
The transaction reduces the stake in James River held in Shaw
funds to...