Plesner advises Tryg in possible acquisition of RSA together with Canadian Intact
18 November 2020
Tryg A/S has together with Canadian Intact submitted a recommended cash offer of about DKK 60 billion for British RSA, which inter alia owns Swedish Trygg-Hansa as well as Danish and Norwegian Codan. If the transaction is completed, Tryg will acquire Trygg-Hansa and Codan in Norway, making Tryg the largest P&C insurance company in Scandinavia. Plesner is acting as advisor for Tryg in connection with the transaction.
British RSA Insurance Group is a multinational general insurance company with headquarters in London, England, and has major operations in Scandinavia, the UK and Canada together with supportive international business in Ireland, Continental Europe and the Middle East. This includes Trygg-Hansa, which is the third-largest insurance company in Sweden and Danish Codan, which is the third-largest insurance company in Denmark. RSA is listed on the London Stock Exchange.
Tryg A/S and Intact Financial Corporation have submitted an offer of GBP 7.2 billion corresponding to about DKK 60 billion for 100% of the shares in RSA. Of this amount, Tryg will contribute GBP 4.2 billion (corresponding to approximately DKK 35 billion). Tryg will finance its part of the offer by way of a rights issue. RSA's board of directors has recommended the offer to its shareholders.
By taking over Trygg-Hansa in Sweden and Codan in Norway - together with their approximately 1.3 million customers and 1,500 employees - Tryg will strengthen its position in Sweden and Norway and become the largest P&C insurance company in Scandinavia.
Intact will take over RSA's Canadian, UK and international activities.
Plesner is acting as legal counsel for Tryg in connection with the transaction. More than 90 lawyers from Plesner have been involved in the transaction.
Tryg A/S and Intact Financial Corporation have submitted an offer of GBP 7.2 billion corresponding to about DKK 60 billion for 100% of the shares in RSA. Of this amount, Tryg will contribute GBP 4.2 billion (corresponding to approximately DKK 35 billion). Tryg will finance its part of the offer by way of a rights issue. RSA's board of directors has recommended the offer to its shareholders.
By taking over Trygg-Hansa in Sweden and Codan in Norway - together with their approximately 1.3 million customers and 1,500 employees - Tryg will strengthen its position in Sweden and Norway and become the largest P&C insurance company in Scandinavia.
Intact will take over RSA's Canadian, UK and international activities.
Plesner is acting as legal counsel for Tryg in connection with the transaction. More than 90 lawyers from Plesner have been involved in the transaction.
