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<a href="http://www.accessmylibrary.com/coms2/summary_0286-18737193_ITM" title="Facts and information about RSA to exit US as UK takeover rumours fly.">RSA to exit US as UK takeover rumours fly.</a>
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RSA to exit US as UK takeover rumours fly.
(From InsuranceNewslink.com)
Royal & Sun Alliance has agreed to sell its remaining US business to management through buyout vehicle, Arrowpoint Capital, for a deferred consideration of UKP158m. However, the sale will result in a net loss of UKP443m including a net capital contribution of UKP151m.
Turnaround specialist, chief executive Andy Haste, comments "The sale of the US operation is the right deal for our shareholders and US policyholders.The transaction will bring certainty and finality and ...
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