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Reinsurer Validus Holdings to buy Western World Insurance for $690 mln

June 23 (Reuters) - Reinsurer Validus Holdings Ltd said it would buy specialty insurer Western World Insurance Group Inc for about $690 million in cash.

The deal is expected to close in or about the end of the third quarter of 2014, Validus said in a statement.

(Reporting By Neha Dimri in Bangalore; Editing by Savio D'Souza)