Hi,
CNBC’s Buffett Watch Reported Warren Buffett "Gracefully" Says Goodbye to White Mountains Berkshire Hathaway bought 16.3% of White Mountains Insurance Group 7 year ago.
Warren Buffett who pays $300 million will be selling for two subsidiaries and $751 million.
White Mountains CEO Ray Barrette said Berkshire's investment in White Mountains helped the company buy CGU/One Beacon in 2001. The purchase of CGU's property and casualty insurance business helped White Mountains expand beyond reinsurance
Buffett was a "long-time friend" of Jack Byrne, White Mountains' CEO at the time of the initial investment, and a key player in Geico's growth in the 1970s.
For More Information:
Buffett's Berkshire Hathaway trades White Mountains Insurance stake for 2 companies and cash
Berkshire Sells White Mountains Stake for $836 Mln White Mountains Buys Off Warren Buffett (WTM, BRK/A)
Subscribe to:
Post Comments (Atom)
1 comment:
Berkshire Hathaway Logos design Vector
Post a Comment