BRIEF-Assured Guaranty expects to pay $450 mln in cash to acquire CIFG
April 13 (Reuters) - Assured Guaranty Ltd
* Agc expects to pay $450 million in cash to acquire cifg.
* As part of transaction, cifg na will merge into agc, which will be surviving entity
* Completed acquisition will add $5.6 billion to assured guaranty's insured portfolio
* Says cifg acquisition is expected to be accretive to assured guaranty's earnings per share
* Cquisition is expected to be completed mid-2016
* Says cifg's stockholders have already approved acquisition
* Says currently estimates transaction will increase its statutory capital in 2016 by approximately $300 million to $325 million
* Says that its subsidiary assured guaranty corp has entered into an agreement to acquire cifg holding inc
* Policies associated with 2009 reinsurance deal between cifg na,agc not been novated to agc already to become direct obligations of agc
* Acquisition is expected to be completed mid-2016 (fixes spelling of "acquisition") Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)
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