White Mountains Sells Majority Stake in Bamboo to CVC for $1.75B
White Mountains has struck a stake us to sell a majority stake in its data-enabled insurance distribution platform, Bamboo, to funds advised by CVC. The transaction values Bamboo at $1.75 billion, with White Mountains retaining an approximately 15% stake worth an estimated $250 million.
The deal is expected to generate approximately $310 per share and net cash proceeds of $840 million for White Mountains. It is slated to close by the end of the fourth quarter of 2025, pending regulatory approvals and customary closing conditions.
Bamboo, focused on the homeowners' insurance market in California and Texas, is led by CEO John Chu. The company uses a data-powered, tech-enabled underwriting platform to deliver fair coverage and tailored protection to its customers.
Upon closing, White Mountains will retain a significant stake in Bamboo, valued at $250 million. The sale is anticipated to bring substantial returns to White Mountains' shareholders, with the transaction expected to close later this year.
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