November 30, 2017 / 11:42 AM / in 16 days

BRIEF-Trisura Group To Acquire 40% Interest In Canadian Unit

Nov 30 (Reuters) - Trisura Group Ltd:

* TRISURA GROUP ANNOUNCES AGREEMENT TO ACQUIRE 40% MANAGEMENT INTEREST IN CANADIAN SUBSIDIARY

* TRISURA GROUP LTD - AGREED TO PURCHASE TG MANAGEMENT GROUP‘S INTEREST IN TRISURA GUARANTEE IN EXCHANGE FOR TRISURA COMMON SHARES

* TRISURA GROUP - SPECIAL COMMITTEE COMPOSED OF CO‘S INDEPENDENT DIRECTORS WAS FORMED TO REVIEW PROPOSED ACQUISITION, MAKE A RECOMMENDATION TO BOARD

* TRISURA GROUP LTD - FOLLOWING TRANSACTION, IT IS EXPECTED THAT TRISURA‘S DEBT TO CAPITAL RATIO WILL DECLINE BELOW OUR TARGET MAXIMUM OF 20%

* TRISURA GROUP LTD - ‍FOLLOWING ITS REVIEW, COMMITTEE UNANIMOUSLY RECOMMENDED THAT TRISURA BOARD PROCEED WITH PROPOSAL​

* TRISURA GROUP LTD - ‍MANAGEMENT EXPECTS TRANSACTION TO BE ACCRETIVE TO EARNINGS AND BOOK VALUE PER SHARE IN 2018​

* TRISURA - AGREED TO BUY TG MANAGEMENT GROUP‘S INTEREST IN TRISURA GUARANTEE ALSO IN EXCHANGE FOR PREFERRED SHARES OF TRISURA

* TRISURA GROUP LTD - ‍PREFERRED SHARES OF CO WILL BE ISSUED AT PRICE OF $25/SHARE​

* TRISURA GROUP LTD - SENIOR MEMBERS OF TG MANAGEMENT TO ENTER INTO A LOCK-UP AGREEMENT FOR 50% OF SHARES THEY WILL RECEIVE, EXPIRING ON DEC 23, 2018

* TRISURA GROUP - SHAREHOLDERS AGREEMENT BETWEEN TG MANAGEMENT GROUP AND TRISURA WILL BE TERMINATED Source text for Eikon: Further company coverage:

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