Finland’s Sampo says has all approvals for Hastings deal

By Reuters 2020-10-27T07:48:00+00:00

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Sampo has received all regulatory and antitrust approvals needed for its acquisition of British motor insurer Hastings, the Finnish financial group said today.

Hastings agreed to be bought in August by Sampo and South Africa’s Rand Merchant Investment (RMI) 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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