The Board of Directors of XL Group plc (NYSE:XL) authorized a share repurchase program on February 22, 2013. Under the program, the company will repurchase up to $850 million worth of its shares. The repurchases will be made from time to time in the open market or in privately negotiated transactions. Repurchased shares will be canceled. Repurchases will be funded from the available cash on hand. The timing, form and the amount of the repurchases will depend on a variety ... of factors, including market conditions, legal requirements and other factors. All repurchases will be carried out by way of redemption in accordance with Irish law and the company's constitutional documents. The program will be modified, extended or terminated by XL Group at any time. As of March 31, 2013, the company has repurchased 4,200,000 shares for $124.97 million.
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XL Group plc (NYSE:XL) and current management team of Bladex Asset Management led by Chief Investment Officer, Manuel Mejia-Aoun entered into an agreement to acquire Bladex Asset Management from Banco Latinoamericano de Comercio Exterior, S.A (NYSE:BLX) on February 5, 2013. The transaction, which is subject to final documentation and regulatory approvals, is expected to close in the second quarter of 2013. Melanie Carpenter and Peter Majeski of i-advize Corporate Communications, ... Inc. acted as public relation advisors for Bladex. White & Case, L.L.P. acted as legal advisor to Banco Latinoamericano de Comercio Exterior.
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