RSA Insurance break-up talk follows Cevian Capital's disclosure of 7.3% stake
Cevian Capital, an activist investment fund, has disclosed that it now holds a 7.3% stake in the listed UK-based insurer RSA Insurance, the Financial Times reported.
The newspaper’s market report section added Cevian’s stock exchange announcement prompted talk that RSA might come under pressure to think about splitting its Canadian, Scandinavian and UK businesses.
A market report in The Daily Telegraph cited a Canaccord Genuity analyst who argued that Cevian seems likely to press for a break-up of RSA.
RSA Insurance’s share price closed 0.90p up at 89.55p in London yesterday, 28 March, giving the company a market capitalisation of GBP 3.76bn (EUR 4.54bn).
Source Financial Times, Daily Telegraph