Enstar Group Ltd. unit Enstar Holdings (US) Inc. acquired Dana Cos. LLC from Dana Inc. for $91.5 million.
Enstar financed the transaction through a draw on its revolving credit facility.
Dana Inc. supplies drivetrain, sealing and thermal-management technologies for vehicles. Dana Cos. holds liabilities associated with personal injury asbestos claims and environmental claims arising from its legacy manufacturing operations. Dana Cos. assets include insurance rights related to coverage against those liabilities, and marketable securities.