25th Jun 2007 07:00
On 24 May 2007, Royal & Sun Alliance Insurance Group plc'ssubsidiary, RSA Overseas Holdings B.V. ("R&SA"), launched a voluntaryconditional public tender offer (the "Tender Offer") for theacquisition of all the outstanding issued shares and voting rights inCodan A/S. £ On 21 June 2007 at 20.00 CET the Tender Offer expired and at thattime R&SA owned or had received valid acceptances for an aggregate of41,894,201 Codan shares of nominal value DKK 20 each. R&SA now holds97.4% of the issued Shares and voting rights of Codan excluding the2,212,825 (4.89%) treasury shares already held by Codan. £ R&SA considers all conditions of the Tender Offer to have beensatisfied and confirms that it will complete the Tender Offer.Settlement is expected to take place on 28 June 2007. £ R&SA intends to initiate a compulsory acquisition procedure toacquire the remaining shares, and has today requested an ExtraordinaryGeneral Meeting of Codan to seek shareholder approval for thedelisting of Codan shares from the Copenhagen Stock Exchange. Copyright Business Wire 2007Related Shares:
RSA.L