BUZZ-Abacus Life soars on $200 mln deal to buy Carlisle Management
Shares of Abacus Lifesurged 15.5% to $9.68 after announcing its $200 million acquisition of Luxembourg-based fund manager Carlisle Management. The deal will expand ABL's assets under management by $2 billion and integrate Carlisle into ABL's wealth division. ABL specializes in life insurance policies and specialty insurance products.
Shares of alternative asset manager Abacus Life (ABL.O) jump as much as 21.1%; last up 15.5% at $9.68
ABL said on Thursday it has agreed to buy Luxembourg-based fund manager Carlisle Management for about $200 mln
Carlisle shareholders will get 9.30 mln ABL common shares and bonds worth $73.50 mln
The deal will add up to $2 bln in assets under management for ABL
Carlisle, which functions within the life settlement industry, will be integrated with ABL’s wealth division that provides investors access to insurance products
ABL is a buyer of life insurance policies and specializes in specialty insurance products
Including session’s moves, ABL shares up 3.1% YTD
