SAMPO PLC STOCK EXCHANGE RELEASE 16 November 2020 at 12:30 pm
Sampo Group completes Hastings deal
Sampo announced on 5 August 2020 that Sampo and Rand Merchant Investment Holdings (RMI) have made a recommended cash offer, through a jointly owned company, to acquire all issued and to be issued shares in Hastings Group Holdings Plc not already owned by Sampo and RMI.
Following the completion of the Court Hearing procedure held on 13 November 2020, the offer will now be effective.
The jointly owned company Dorset Bidco (Hastings Limited as of 2021) will become Sampo's subsidiary and form a separate segment in the Group's financial reporting. Dorset Bidco's profit and loss items will be recognized line-by-line as of 16 November 2020 in the Group's consolidated financial statements.
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