08:15 AM EDT, 10/03/2025 (MT Newswires) -- White Mountains Insurance ( WTM ) said Friday it agreed to sell a controlling stake in data-enabled insurance distribution platform Bamboo to funds advised by CVC Capital Partners.

The deal values Bamboo at $1.75 billion and is expected to close by the end of Q4, White Mountains said.

The financial services holding company said it expects net cash proceeds of $840 million and a $310 gain to its book value per share resulting from the transaction.

It will keep a 15% equity stake in Bamboo, valued at $250 million based on the transaction, White Mountains said.

Shares were up 0.9% in recent premarket activity.