Enstar Group’s Depositary Shares Offering

Cravath represented the underwriters, led by Wells Fargo Securities, Morgan Stanley and J.P. Morgan Securities, in connection with the $110 million offering of depositary shares representing preferred stock of Enstar Group Limited. Enstar Group acquires and manages insurance and reinsurance companies in run‑off and provides management, consulting and other services to the insurance and reinsurance industry. The shares were listed on the NASDAQ Global Select Market. The transaction closed on November 21, 2018.

The Cravath team included partners Andrew J. Pitts and D. Scott Bennett and associates Megan E. Fitzgerald, D. Ryan Hart and Diane K. Mokoro. Christopher M. Tierney also worked on this matter.