The deal recognises the ‘inherent value in the company’ adds Hastings’s group chief financial officer
Motor insurer Hastings today confirmed a cash offer from existing investor Rand Merchant Investment Holdings Limited (RMI) and financial firm Sampo Oyl to buy Hastings’s issued and to be issued share capital that is not already controlled by these parties – the insurer’s group chief financial officer John Worth believes this is a great indication of the appetite for overseas companies to invest in the UK insurance market.
This article is usually available exclusively to subscribers.
For a limited period, you can enjoy all the benefits of an online subscription free for 14 days. Sign up now to read this article in full and to enjoy unlimited access to premium online content, a digital edition of the latest issue, plus an online archive of back issues.
Also, as a registered user, you will be able to -