BRIEF-Assured Guaranty expects to pay $450 mln in cash to acquire CIFG

miércoles 13 de abril de 2016 17:00 GYT

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)