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XL Capital hires Goldman to explore sale -Bloomberg

Wed Dec 10, 2008 12:40pm EST

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NEW YORK, Dec 10 (Reuters) - Bermuda-based insurer XL Capital Ltd (XL.N) has hired Goldman Sachs as an adviser to explore a sale of the company, Bloomberg reported on Wednesday, citing unnamed sources.

Stocks  |  Mergers & Acquisitions

XL's shares were down 44 percent to $3.24 in early afternoon trading on the New York Stock Exchange.

Last month, XL posted a quarterly net loss of $1.65 billion, hurt by charges related to a stake it held in troubled bond insurer Syncora Holdings Ltd SCA.N, impairments and investment losses.

XL and Goldman Sachs could not be immediately reached for comment. (For more M&A news and our DealZone blog, go to www.reuters.com/deals)

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