White Mountains Completes Sale of Bamboo

Rhea-AI Summary

White Mountains (NYSE: WTM) announced on December 8, 2025 that it has completed the sale of a controlling interest in Bamboo to affiliates of funds advised by CVC Capital Partners.

White Mountains will continue to hold an approximately 15% fully-diluted equity stake in Bamboo following the transaction.

Positive

• Sale completed of controlling interest to CVC on December 8, 2025
• Retains an approximately 15% fully-diluted equity stake in Bamboo

Negative

• No longer retains control of Bamboo after the transaction

Key Figures

Retained Bamboo stake approximately 15% fully-diluted Post-closing ownership interest in Bamboo

Bamboo valuation $1.75 billion Transaction value in Oct 3, 2025 sale agreement

Expected BVPS gain $310 per share Incremental book value from Bamboo sale, Oct 3, 2025

Net cash proceeds $840 million Expected cash from Bamboo sale, Oct 3, 2025

Retained Bamboo value $250 million Value of ~15% Bamboo stake based on transaction terms

Q3 2025 BVPS $1,851 Book value per share as of Sept 30, 2025

Pro forma BVPS $2,176 BVPS as of Sept 30, 2025 assuming Bamboo sale

Self-tender size $300 million Maximum value of common shares to be repurchased

Market Reality Check

$2034.79 Last Close

Volume Volume 27,359 vs 20-day avg 19,416 (relative volume 1.41) before this headline. normal

Technical Price 2,034.79 was trading above 200-day MA 1,825.69 ahead of the sale completion.

Peers on Argus

Peers showed mixed, mostly small moves (e.g., HGTY -0.63%, SIGI +0.64%, RLI -0.6%), suggesting stock-specific factors rather than a broad sector move.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Nov 21	Self-tender offer	Positive	+6.3%	Announced modified Dutch auction to repurchase up to $300M of shares.
Nov 06	Quarterly earnings	Positive	-0.3%	Q3 results with BVPS growth and expected Bamboo-driven BVPS uplift.
Oct 03	Bamboo sale deal	Positive	+10.6%	Signed deal to sell ~77% of Bamboo to CVC at $1.75B valuation.
Sep 30	Bamboo expansion	Positive	-0.4%	Announced E&S Signature program in Texas via MGA-sponsored sidecar.
Sep 02	CEO succession	Neutral	+0.3%	Planned 2026 CEO transition and related senior management changes.

Pattern Detected

Recent company-specific catalysts (Bamboo sale, buyback, earnings) often led to meaningful moves, with both aligned and divergent reactions versus generally positive news.

Recent Company History

Over the last few months, White Mountains reported rising book value per share to $1,851 as of Sept 30, 2025 and highlighted that the Bamboo sale could lift pro forma BVPS to $2,176. The Bamboo transaction, valued at $1.75 billion, previously drove a strong positive reaction when announced and is now completed with White Mountains retaining roughly a 15% stake. A self‑tender offer of up to $300 million in common shares further underscored capital return alongside ongoing leadership transition plans for 2026.

Market Pulse Summary

This announcement confirms the closing of the Bamboo transaction, previously outlined as a major value realization event with a $1.75 billion valuation and an expected boost to book value per share. White Mountains now retains roughly a 15% fully‑diluted stake, maintaining exposure to Bamboo’s future performance. Investors may track upcoming disclosures showing how cash proceeds and retained value translate into reported BVPS, capital deployment, and segment-level earnings contributions over time.

AI-generated analysis. Not financial advice.

HAMILTON, Bermuda, Dec. 8, 2025 /PRNewswire/ -- White Mountains Insurance Group, Ltd. (NYSE: WTM) ("White Mountains") announced today that it has completed the sale of a controlling interest in Bamboo to affiliates of funds advised by CVC Capital Partners ("CVC").  White Mountains continues to retain an approximately 15% fully-diluted equity stake in Bamboo.

Contact:
Rob Seelig
+1 (603) 640-2212
ir@whitemountains.com

View original content:https://www.prnewswire.com/news-releases/white-mountains-completes-sale-of-bamboo-302634981.html

SOURCE White Mountains Insurance Group, Ltd.

FAQ

What did White Mountains (WTM) announce on December 8, 2025 about Bamboo?

White Mountains announced it completed the sale of a controlling interest in Bamboo to affiliates of funds advised by CVC Capital Partners.

How much equity does White Mountains (WTM) retain in Bamboo after the sale?

White Mountains continues to retain an approximately 15% fully-diluted equity stake in Bamboo.

Who acquired the controlling interest in Bamboo from White Mountains (WTM)?

Affiliates of funds advised by CVC Capital Partners acquired the controlling interest.

Did White Mountains (WTM) fully exit its investment in Bamboo on December 8, 2025?

No. White Mountains sold a controlling interest but retains roughly 15% equity, so it did not fully exit.

When was the sale of Bamboo by White Mountains (WTM) completed?

The transaction was completed on December 8, 2025.