COPENHAGEN: Intact Group has obtained approval from the Danish Competition and Consumer Authority to acquire sole control of RSA’s business outside Norway and Sweden, including the acquisition of sole control of RSA’s Danish business placed in Codan A/S.
Today, the Danish Competition and Consumer Authority has announced that approval has been granted to Intact Financial Corporation and its consolidated subsidiaries (the “Intact Group”) in connection with the acquisition of sole control of RSA Insurance Group plc’s (RSA) business outside Norway and Sweden, including the acquisition of sole control of RSA’s Danish business (the “Acquisition”).
As previously announced, following completion of the Acquisition, the Tryg group will co-own RSA’s business in Denmark (“Codan Denmark”) with the Intact Group on a 50/50 economic basis. Codan Denmark will remain completely separate and independent of Tryg.
The acquisition remains subject to a number of outstanding conditions which includes receipt of the required regulatory clearances in certain jurisdictions, including to implement the acquisition. www.tryg.com