Sampo buys out Rand for Hastings
The £685m deal sees Sampo pay £1.85bn for 100% of the share capital.
Hastings has been fully acquired by Scandinavian provider, Sampo.
This week (8 December), Sampo signed an agreement with Rand Merchant Investment Holdings (RMI) to acquire its ownership of Hastings.
Under the terms of the agreement, Sampo will pay £685m for RMI’s 30 percent minority interest in Hastings and the option held by RMI to acquire 10 percent of Hastings’ share capital from Sampo by May 2022.
Combined with the initial acquisition in November 2020, the agreement implies that Sampo
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@insuranceage.co.uk
Most read
- In Depth: Managing cyber risk in an ever-changing security landscape
- Covéa cuts losses but underwriting deficit grows
- JMG strikes its biggest deal of 2024 with BQI swoop