WILLIS GROUP HOLDINGS LIMITED FILES REGISTRATION
STATEMENT FOR SECONDARY PUBLIC OFFERING OF COMMON
STOCK
London, U.K., October 30, 2001
- Willis Group Holdings Limited (NYSE: WSH)
today filed a registration statement with the
Securities and Exchange Commission relating
to a proposed public offering of $400 million
of its common stock by certain of its existing
shareholders. As requested by Willis, Profit
Sharing (Overseas), Limited Partnership, an
affiliate of Kohlberg Kravis Roberts & Co.
L.P. and the majority shareholder of Willis,
and six major insurance companies, Axa Insurance,
Royal & SunAlliance Insurance Group, The
Chubb Corporation, The Hartford Financial Services
Group, Inc., Travelers Property Casualty Corp.
and The Tokio Marine and Fire Insurance Co.,
Limited will each sell shares in the offering.
The selling shareholders have also granted to
the underwriters an option for a period of 30
days to purchase up to an aggregate of $60 million
of additional common stock to cover over-allotments,
if any. The effect of the secondary public offering
will be to significantly increase the number
of shares that are publicly traded. Willis will
not issue any shares of common stock in the
offering.
Salomon Smith Barney is serving as bookrunning
manager for the offering. Copies of the preliminary
prospectus related to the offering, when available,
may be obtained from Salomon Smith Barney, Brooklyn
Army Terminal, 140 58th Street, 5th Floor, Brooklyn,
NY 11220 (telephone: 718-765-6732).
Willis Group Holdings is a leading global insurance
broker, developing and delivering professional
insurance, reinsurance, financial and human
resource consulting and actuarial services to
corporations, public entities and institutions
around the world. With over 300 offices in more
than 100 countries, its global team of 13,000
associates serves over 50,000 clients in 160
countries. Willis has particular expertise in
serving the needs of clients in such major industries
as construction, aerospace, marine and energy.
In June 2001 the Group returned to public ownership
and is listed on the New York Stock Exchange
(symbol: WSH). Additional information on Willis
may be found on its web site www.willis.com.
A registration statement relating to these
securities has been filed with the Securities
and Exchange Commission but has not yet become
effective. These securities may not be sold
nor may offers to buy be accepted prior to the
time the registration statement becomes effective.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy
nor shall there be any sale of these securities
in any state in which such offer, solicitation
or sale would be unlawful prior to registration
or qualification under the securities laws of
any such state.
CONTACT:
Investors:
Kerry K. Calaiaro
+1-212-837-0880
calaiaro_ke@willis.com
Media:
Nicholas Jones
+1-44-20-7488-8190
jonesnr@willis.com
or Dan Prince
+1-212-837-0806
prince_da@willis.com
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