Hastings has confirmed an offer to buy the remaining shares in the group by a consortium known as Dorset Bidco which is comprised of Nordic insurer Sampo and Rand Merchant Investment Holdings (RMI).
Hastings first addressed deal rumours this week.
Today’s announcement showed the deal valued Hastings at £1.66bn.
RMI is already a 29.7% shareholder of Hastings having invested in 2017.
Toby van der Meer, chief executive officer of Hastings, commented: “We have announced this morning that the
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