Hastings Group Holdings plc

Equities

HSTG

GB00BYRJH519

Delayed London S.E. Other stock markets			5-day change	1st Jan Change
- ^GBX	-.--%		-0.16%	+39.29%

2023	Fitch Upgrades Hastings Rating On Improved Capitalization, Leverage	MT
2021	Car insurance premiums in Britain fall 6% in fourth-quarter - survey	RE

Hastings : Agrees to GBP1.66 Billion Offer From Sampo, Rand Merchant Consortium

August 05, 2020 at 03:01 am EDT

By Ian Walker

Hastings Group Holdings PLC said Wednesday that it has agreed to a 1.66-billion-pound ($2.17 billion) offer from a newly created consortium comprising Sampo Oyj and Rand Merchant Investment Holdings Ltd.

Under the offer, accepting shareholders of the U.K. insurer will get 250 pence a share in cash, a 16% premium to Tuesday's closing price of 215 pence and a 47% premium to its closing price of 170 pence on July 28 the day before Hastings said it had received the offer approach. Shareholders will also be able to keep the interim dividend of 4.5 pence a share declared Wednesday.

Sampo and RMI currently own or control 196.8 million Hastings shares, or 29.7% of its issued share capital.

Write to Ian Walker at ian.walker@wsj.com

Stocks mentioned in the article

	Add to a list Add to a list 0 selected To use this feature you must be a member Log in Sign up	Price	Change	5d. change	Capi.
	SAMPO OYJ	38.14 EUR	-3.71%	-4.01%	21.29B
	SAMPO CORPORATION	29.15 TWD	-0.17%	-1.19%	325M

Latest news about Hastings Group Holdings plc

Fitch Upgrades Hastings Rating On Improved Capitalization, Leverage	23-01-31	MT
Car insurance premiums in Britain fall 6% in fourth-quarter - survey	21-01-14	RE
Hastings : Fitch Upgrades Hastings' Long-Term Ratings on Takeover by Sampo, Rand Merchant	20-11-19	MT
Canada's Intact, Denmark's Tryg agree to buy British insurer RSA for $9.6 billion	20-11-18	RE
Hastings : Sampo, Rand Merchant JV Completes Hastings Takeover	20-11-16	MT
Sampo Oyj : Sampo Group Completes Hastings Deal	20-11-16	DJ
Hastings : Sampo, Rand Merchant Near Closing of Hastings Takeover	20-11-16	MT
Hastings Group Holdings plc(LSE:HSTG) dropped from S&P Global BMI Index	20-11-16	CI
Hastings Group Holdings plc(LSE:HSTG) dropped from FTSE 350 (Ex Investment Companies) Index	20-11-16	CI
Hastings Group Holdings plc(LSE:HSTG) dropped from FTSE 250 Index	20-11-16	CI
Hastings Group Holdings plc(LSE:HSTG) dropped from FTSE 250 (Ex Investment Companies) Index	20-11-16	CI
Hastings Group Holdings plc(LSE:HSTG) dropped from FTSE 350 Index	20-11-16	CI
Hastings Group Holdings plc(LSE:HSTG) dropped from FTSE All-Share Index	20-11-16	CI
Sampo Oyj and Rand Merchant Investment Holdings Limited completed the acquisition of Hastings Group Holdings plc.	20-11-15	CI
Sampo Oyj : Sampo Group's Results For January -- -4-	20-11-04	DJ
Sampo Oyj : Sampo Group's Results For January -- -3-	20-11-04	DJ
Sampo Oyj : Sampo Group's Results For January -- September 2020	20-11-04	DJ
Rand Merchant Investment : Finland's Sampo says has all approvals for Hastings deal	20-10-27	RE
Sampo Oyj : Sampo Group Has Received All Regulatory Approvals For Its Hastings Deal	20-10-27	DJ
Admiral : UK insurers under fire as watchdog proposes 'radical' ban on loyalty penalties	20-09-22	RE
CVS Health : Health, Motor Insurers Benefit From Pandemic -- Earnings at a Glance	20-08-05	DJ
Hastings : Agrees to GBP1.66 Billion Offer From Sampo, Rand Merchant Consortium	20-08-05	DJ
Transcript : Hastings Group Holdings plc, Q2 2020 Earnings Call, Aug 05, 2020	20-08-05
Sampo Oyj : Sampo Group's Results For January -- -3-	20-08-05	DJ
Sampo Oyj : Sampo Group's Results For January -- June 2020	20-08-05	DJ

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Company Profile

Hastings Group Holdings plc, formerly Hastings Group Holdings Limited, is a holding company. The Company provides general insurance. Its segments include Underwriting, Retail and Corporate. The Underwriting segment includes underwriting business based in Gibraltar. The Underwriting segment includes its subsidiaries, Advantage Insurance Company Limited (AICL), which is engaged in underwriting general insurance, primarily private car insurance in the United Kingdom, and Conquest House Limited, which owns property utilized by the Company. AICL also underwrites the United Kingdom home policies under a co-insurance arrangement. The Retail segment includes provision of insurance broking services to the private car, van, bike and home markets in the United Kingdom, and broking services provided on behalf of a panel of external third-party insurers. The Corporate segment includes the results of various head office companies, whose primary activities are as holding and finance companies.

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