Sompo plots to buy a 15% shareholding

money graph profit going up upwards financial

Sompo plans to spend $916m on a 15% stake in French reinsurer Scor.

The Japanese giant revealed its plans after buying a 7.8% stake from Scor’s largest shareholder, Patinex AG. The stake is worth about ¥60bn ($500 million) based on Scor’s share price.

Paris-based Scor has a market value of €5.7bn ($6.3 billion).

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