May 24, 2017 / 10:13 AM / in 5 months

BRIEF-CF Corp to acquire Fidelity & Guaranty Life at about $1.84 bln

May 24 (Reuters) - CF Corp-

* CF Corporation to acquire fidelity & guaranty life in transformative all-cash transaction valued at $1.835 billion

* Says deal for all-cash transaction valued at $1.835 billion

* Says CF Corp Will acquire fgl for $31.10 per share in cash

* CF Corp says transaction will be financed with $1.2 billion from CF Corp’s ipo and forward purchase agreements

* Says deal for approximately $1.835 billion, plus assumption of $405 million of existing debt

* CF Corp - following close of transaction, fgl will continue to be led by its current management team under chris littlefield as president and ceo

* CF Corp says fgl will remain headquartered in des moines, iowa,

* CF Corp says transaction will also be financed more than $700 million in additional new common and preferred equity

* CF Corp says fgl will enter into an investment management agreement with affiliates of blackstone

* CF Corp - funds advised by blackstone tactical opportunities, by gso capital partners lp, fnf have provided a full backstop funding commitment

* CF Corp - co, hrg group inc, fgl’s largest shareholder, approved purchase agreement under which co will acquire certain reinsurance companies from hrg

* CF Corp says for the deal bank of america merrill lynch and ft partners are acting as financial advisors to cf corp

* CF Corp -investor group, funds affiliated with blackstone, fidelity national financial will invest about $900 million in common & preferred equity to fund deal Source text for Eikon: Further company coverage:

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