Debevoise & Plimpton LLP is advising Syncora Holdings Ltd. in its sale of Syncora Guarantee Inc. to Star Insurance Holdings LLC for $392.5 million in cash, subject to adjustments. The closing of the transaction is subject to customary conditions and is expected to complete by the first quarter of 2020.

Syncora Holdings is a Bermuda-domiciled holding company. Syncora Guarantee, a financial guarantee insurance company, is a wholly owned subsidiary of Syncora Holdings. Star Insurance Holdings is an entity organized by GoldenTree Asset Management LP, one of the largest independent asset managers focused on credit, on behalf of GoldenTree’s managed funds and accounts.

The Debevoise team is led by corporate counsel Michael Devins and corporate partner Steven Slutzky and includes corporate partners Eric Juergens and William Regner and associates Sasha Burger and Leron Solomon, tax partner Erin Cleary and associate Lena Smith, benefits partner Jonathan Lewis and associate Peter Dalmasy and intellectual property counsel Judith Church and associate Benjamin Sundholm.

Debevoise & Plimpton LLP is a premier law firm with market-leading practices, a global perspective and strong New York roots. We deliver effective solutions to our clients’ most important legal challenges, applying clear commercial judgment and a distinctively collaborative approach.