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Flagstone Reinsurance to buy stake in reinsurer Alliance

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April 28, 2008

NEW YORK—Flagstone Reinsurance Holdings Ltd. said Monday it plans to buy up to 29.9 percent of Cyprus-based Alliance International Reinsurance Public Co.

Flagstone, which is based in Bermuda, did not disclose financial terms of the deal.

The company's shares added 1 cent to $12.24 in morning trading.

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