RBS finds buyers for first 33% stake in Direct Line
Reuters has reported that buyers have been found three days into a nine-day marketing drive.
A price range of 160-195 pence per share was set last week.
Direct Line would be worth £2.66bn at the mid-point of this price range, and worth £2.5bn and £3.5bn at the lower and higher ends respectively.
Order books, which opened on September 28, are due to close on October 10.
A source close to the transaction said: “The book is now fully covered within the range, and to get that done three days in is
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 [email protected].
You are currently unable to print this content. Please contact [email protected] to find out more.
You are currently unable to copy this content. Please contact [email protected] 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 [email protected]
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 [email protected]
More on Insurer
Videos/Podcasts
Insurance Covid-Cast: How has staff productivity been impacted by remote working?
For the 35th episode of Post and Insurance Age’s video series we gathered together a panel of senior insurance managers to discuss how productive staff have been since Covid-19 lockdown, and whether it has changed as restrictions have eased?
Subscribe to our daily newsletter for all the latest news
Most read
- Insurers urged to pay claims quickly following BI ruling
- Aviva confirms office closures amid restructure
- Blog: The broker fallout from the Supreme Court BI ruling
- The Insurance Age Deal Tracker
- Supreme Court rejects insurers' appeals in BI test case judgment
- Biba reveals measures to help brokers in light of Supreme Court judgment
- Aviva’s Patrick Tiernan moves to Lloyd’s