Royal Bank of Scotland has found buyers for the full 33% stake of insurer Direct Line it has put up for sale, within 3 days of the 9 day marketing period. It had set a price range of 160-195 pence last week. Direct Line would be worth £2.66bn at the mid-point of quoted price range.
Goldman Sachs and Morgan Stanely are running the offering, and are joint bookrunners together with UBS.
In another blow to Gibraltar insurance industry, Gibralatar-based Hill Insurance company is into liquidation.Court documents for the winding-up reveal the bonds it used as shareholders' equity were either non-existent or did not belong to the company.
This liquidation follows hot on the heels of Lemma insurance's liquidation last week.
Goldman Sachs and Morgan Stanely are running the offering, and are joint bookrunners together with UBS.
In another blow to Gibraltar insurance industry, Gibralatar-based Hill Insurance company is into liquidation.Court documents for the winding-up reveal the bonds it used as shareholders' equity were either non-existent or did not belong to the company.
This liquidation follows hot on the heels of Lemma insurance's liquidation last week.
No comments:
Post a Comment