Finland's Sampo says has all approvals for Hastings deal
Reuters
Published Oct 27, 2020 07:34
(Reuters) - Sampo (HE:SAMPO) has received all regulatory and antitrust approvals needed for its acquisition of British motor insurer Hastings (L:HSTG), the Finnish financial group said on Tuesday.
Hastings agreed to be bought in August by Sampo and South Africa's Rand Merchant Investment (RMI) (J:RMIJ) in a cash deal valuing it at 1.66 billion pounds.
"All of the conditions relating to regulatory and antitrust approvals have now been satisfied," Sampo said in a statement.
Sampo will hold 70% of Hastings after a court hearing procedure expected to be held on Nov. 13.
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Written By: Reuters
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