• Enstar buys $92mn Dana asbestos unit

    Enstar Group has acquired a subsidiary of Dana, an auto parts
    manufacturer in Ohio, in a deal that marks its first acquisition of
    a non-insurance business and includes liabilities such as asbestos
    claims related to the acquired assets, the legacy heavyweight said
    today.
    The deal was structured as membership interest purchase, and
    Dana said it received $91.5mn for its interest in the unit, with
    the Ohio firm set to take a $72mn pre-tax charge to offload the
    liabilities.
    The assets...

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